摘要
本文基于2019年上半年中国宏观金融市场和绿色债券市场的数据统计,分析了国内宏观经济状况、市场的风险偏好及流动性水平和绿色债券市场的发展现状。尝试通过同类券对比分析等方法揭示绿色债券在发行成本、投资价值等方面的优势。结果表明,2019年上半年贴标绿色债券发行总金额再创历史同期新高;各绿债品种发行规模同比普遍增长,绿色公司债发行规模超过金融债;绿色公司债发行成本优势较为明显;绿色债券指数的表现整体优于普通债券指数。基于以上分析结果,文章认为2019年中国绿色债券市场总规模将有进一步突破,需要在完善绿色债券标准、出台政策组合、继续推动债种创新等方面进行探索,挖掘绿色债券市场存量和增量的发展空间。
Based on the statistics of China’s macro financial market and green bond market in the first half of 2019,this paper analyzes the domestic macroeconomic conditions,market risk appetite and liquidity level,and the current development of the green bond market.And try to reveal the advantages of green bonds in terms of issuance costs and investment value through similar analysis of similar bonds.The results show that the total amount of green bond issuance in the first half of 2019 reached a record high during the same period;the issuance scale of various green bond varieties has generally increased year-on-year,and the issuance size of green corporate bonds has exceeded financial bonds;the issuance cost advantage of green corporate bonds is obvious;The performance of the index as a whole is better than the ordinary bond index.Based on the results of the above analysis,the article believes that the total size of China’s green bond market in 2019 will have further breakthroughs.It is necessary to explore ways to improve the green bond standards,introduce policy portfolios,and continue to promote debt innovation.Expansion capacity.
作者
刘苏阳
付珩
仲珈仪
Liu Suyang;Fu Hang;Zhong Jiayi(Green Finance International Research Institute,Central University of Finance and Economics)
出处
《金融发展评论》
2019年第7期52-62,共11页
Financial Development Review
