Machine Translated by Google Guiding Opinions of the China Securities Regulatory Commission on Supporting the Development of Green Bonds In order to fully implement the "The Central Committee of the Communist Party of China and the State Council on Accelerating the Promotion of Ecological "Opinions on Civilization Construction" and "Guiding Opinions on Building a Green Financial System" (Yinfa [2016] No. 228) spirit, adhere to innovation, coordination, green, open The development concept of openness and sharing, and guide the bond market of stock exchanges to further serve The healthy and orderly development of green industries will boost the transformation of my country's economic development mode and the Structural transformation and upgrading, now on the development of green corporate bonds in stock exchanges item, the following guidelines are provided: 1. The term “green corporate bonds” as mentioned in these Guiding Opinions refers to those that comply with the Securities Law "Company Law", "Administrative Measures for Issuance and Trading of Corporate Bonds" and other relevant laws Laws and regulations, follow the requirements of the relevant business rules of the stock exchange, raise funds Funds are used to support corporate bonds for green industry projects. 2. Green industry projects to which the funds raised from green corporate bonds are invested, mainly Refer to the "Green Bond Support" compiled by the Green Finance Professional Committee of the China Society for Finance Supporting the requirements of the Project Catalogue, focusing on supporting energy conservation, pollution prevention, resource conservation and Recycling, Clean Transportation, Clean Energy, Ecological Protection and Climate Change Adaptation and other green industries. 3. Issuers planning to issue green corporate bonds must comply with the Securities Law Companies regulated by the "Company Law" and "Administrative Measures for Issuance and Trading of Corporate Bonds" In addition to the conditions for bond issuance, in principle, it shall not be subject to high pollution, high energy consumption or other violations. 1 Machine Translated by Google Industries that go against the direction of national industrial policy. Focus on supporting the following entities to issue green public Division Bonds: (1) Mature enterprises that have been focusing on green industries for a long time; (2) Potential for leading technologies or unique advantages in the field of green industries enterprise; (3) Government and social capital cooperation committed to the development of medium and long-term green industries Enterprises doing projects; (4) Have plans to invest in my country's green industry projects or are committed to promoting China International financial organizations or multinational corporations for the development of green industries in China. 4. The acceptance and review of green corporate bond applications shall implement “specialized person connection, specialized Item review”, the policy of “report and review” applies. The CSRC will continue to improve Green corporate bond access management "green channel" institutional arrangements, continue to improve corporate bonds ease of issuance of green bonds by the industry. V. The issuer shall conscientiously perform its information disclosure obligations, and comply with regulations or agreements. Ensure that information related to green corporate bonds is disclosed in a true, accurate, complete and timely manner. When applying for the issuance of green corporate bonds, the prospectus shall disclose the green Color industry project category, project identification basis or standard, environmental benefit target, fundraising Collection of funds use plan and management system and other content. At the same time, the issuer should also Commitment letter for raising funds to invest in green industry projects. Green corporate bonds survive During the period, the issuer shall disclose green corporate bonds in accordance with relevant rules or agreements. The use of funds raised from securities, the progress of green industry projects and environmental benefits, etc. content. Green corporate bond trustee in annual fiduciary affairs report 2 Machine Translated by Google The above should also be disclosed. 6. The funds raised from the issuance of green corporate bonds can be used for green industries Project construction, operation, acquisition, or repayment of bank loans for green industry projects and other debts; it is strictly forbidden to use or misuse the name of green projects with funds. The issuer shall, in accordance with the relevant regulations or agreements, open special projects for raised funds. account, to manage the funds raised from the issuance of green corporate bonds, to ensure that Ensure that the funds are actually used for green industry projects that meet the requirements. The trustee should Diligently and conscientiously, use and specialize the funds raised by the issuer to issue green corporate bonds. Continue to supervise the management of item accounts. 7. Issuers are encouraged to submit green corporate bonds before application and during the duration Projects to be invested in by an independent professional assessment or certification agency with respect to the raised funds are classified as green. The evaluation opinion or certification report issued by the color industry project. Develop green corporate bonds An evaluation and certification agency for securities evaluation and certification business shall establish relevant evaluation and certification Systems, procedures and standards, based on the principles of independence, objectivity, impartiality and norms, Issue green corporate bond assessment and certification reports. To encourage the evaluation of accreditation bodies Strengthen communication and coordination and industry self-discipline, and establish comprehensive and unified evaluation and certification standards and procedures Procedure. 8. Stock exchanges should actively participate in international exchanges in the field of green finance Cooperate to explore the priority inclusion of green corporate bonds in the interconnection of domestic and overseas stock exchanges Interconnection mechanism to introduce high-quality overseas green corporate bond issuers and professional investors By. Regularly carry out policy training to strengthen the promotion of green corporate bonds and outstanding cases Propaganda and promotion of intermediaries to strengthen service awareness. 3 Machine Translated by Google 9. Encourage securities underwriting institutions to establish long-term cooperation with high-quality green industry enterprises to proactively provide green corporate bond intermediary services and strengthen green corporate bonds Theoretical research and business innovation related to corporate bonds. Encourage credit rating agencies to In the rating process, the issuer's green credit record is included in its credit risk consideration, And make special disclosure in the credit rating report. 10. The Securities Association of China shall publish the "Green Bond Public Welfare List" on a regular basis. The participation of securities companies in the underwriting of green corporate bonds is regarded as a classification assessment of securities companies. The important content of social responsibility evaluation in price. 11. Actively cultivate a green investment culture, encourage securities companies and fund managers management companies, private equity fund management institutions, commercial banks, insurance companies and other market players Investing in green corporate bonds by companies and their managed products. Accelerate the cultivation of green corporate bonds professional investors in green corporate bonds, and actively introduce professional investors in overseas green corporate bonds. drum Encourage various market investment entities to strengthen cooperation, explore the establishment of green investor alliances, Jointly advocate and implement social responsibilities. 12. Stock exchanges research and release green corporate bond indices, establish and Improve the green corporate bond sector and expand the influence of the green corporate bond market. drum Encourage market investment institutions to develop public offerings, private equity funds and other green color financial products to meet the needs of investors. 13. Encourage and support local governments to comprehensively utilize discounted interest, financial subsidies, and Various preferential policies such as the establishment of a green corporate bond investment fund to support green corporate bonds coupon development. All securities regulatory bureaus should take the initiative to connect with local governments in their jurisdictions, and actively guide social Will capital participate in the construction of green industry projects. 4 Machine Translated by Google 14. Issuance of green asset-backed securities, green local government bonds, green Green renewable bonds and other products shall be implemented with reference to the relevant requirements of green corporate bonds; If there are other regulations on issuance access management, listing and trading, etc., such regulations shall prevail. 15. The CSRC is responsible for the interpretation of this opinion. Matters not covered in this opinion Execute in accordance with the relevant regulations of the China Securities Regulatory Commission. 16. This Opinion shall come into force on the date of publication. 5