To further promote the opening of China’s green bond market, and enhance the role of the Common Ground Taxonomy (CGT) in facilitating cross-border flows of green capital, the expert group convened by the Green Finance Committee (GFC) of China Society for Finance and Banking has undertaken the relabelling work for green bonds newly issued in China’s interbank market in February 2026 against the CGT (2024).
6 green bonds have been newly identified as CGT-aligned, with a total scale of RMB 7.1 billion. Among these, 5 green bonds have already been aligned with the CGT during issuance. Each bond meets the specified technical requirements outlined in the Substantial Contribution Criteria of the CGT. The specific details are as follows:
Table 1: New Relabelled Green Bonds
|
Number
|
ISIN
|
Bond
|
Issuing Amount (RMB/100 Million)
|
|
1
|
CND1000B5PJ5
|
HN HYDROPOWER GN 26(002)(TECH INNO BOND)
|
10.0
|
|
2
|
CND1000B5KR9
|
E ENERGY GN 26(001)(CARBON NEUTRAL BOND)
|
2.0
|
|
3
|
CND1000B5KX7
|
NINGDE TIMES MTN 26(001)(TECH INNO BOND)
|
50.0
|
|
4
|
CND1000B5G86
|
STATE GRID XINYUAN GN 26(004)(CARBON NEUTRAL BOND)
|
2.0
|
|
5
|
CND1000B5G78
|
STATE GRID XINYUAN GN 26(003)(CARBON NEUTRAL BOND)
|
2.0
|
|
6
|
CND1000B5G60
|
LU HONGQIAO GN 26(001)(TECHNICAL INNOVATION BOND)
|
5.0
|
In February 2026, 3 CGT-aligned Chinese outstanding green bonds were due. The specific details are as follows:
Table 2: Matured Relabelled Green Bonds
|
Number
|
ISIN
|
Bond
|
Issuing Amount (RMB/100 Million)
|
|
1
|
CND10009CZW7
|
STATE GRID LEASING SCP 25(007)(GREEN)
|
4.0
|
|
2
|
CND1000B0RF0
|
CGN WIND ENERGY GN 25(006)(TECH INNOVATION BOND)
|
10.0
|
|
3
|
CND1000B0RM6
|
CGN WIND ENERGY GN 25(005)(TECH INNOVATION BOND)
|
10.0
|
As of February 28, 2026, expert group has evaluated a total of 532 CGT-aligned Chinese green bonds traded in the interbank market, 310 of which remain in duration.
The 310 outstanding bonds account for 25.7% of the total number of outstanding green bonds in the interbank market, with an issuance scale of RMB 352.049 billion, accounting for 16.9% of the total scale of outstanding green bonds in the interbank market. Among them, the proportion of issuance scale with issuer rating of AAA, AA+, AA, and unrated is 93.4%, 4.3%, 0.1% and 2.2% respectively. The top three allocations of use of proceeds are D1.3 Electricity generation from wind power (23.9%), H1.1 Construction and operation of public transportation system in urban and rural areas (22.5%), and D1.5 Electricity generation from hydropower (20.6%).
The Common Ground Taxonomy (CGT) aligned bond data published on this and other websites as part of China’s bond labeling work by the Expert Group convened by the Green Finance Committee of China Society for Finance and Banking is public information. The Expert Group welcomes all individuals and institutions to disseminate and use these data, and to develop indices, products and related services on the basis of these data.
Click here for the list of CGT aligned Chinese green bonds (March 2026 version)
