Cases and Prospects From Financial technology promotes the development of green finance in China

The following is the Cases and Prospects From Financial technology promotes the development of green finance in China recommended by recordtrend.com. And this article belongs to the classification: research report, financial technology.

The proposal of China’s carbon peak and carbon neutral goals contains huge economic growth potential and technological innovation vitality, which brings historic opportunities for the rapid development of green finance and financial technology. The Chinese government’s 2021 work report and the 14th five year plan and other important documents put forward specific requirements for achieving the goal of carbon peak and carbon neutralization. The people’s Bank of China, the China Banking and Insurance Regulatory Commission, the China Securities Regulatory Commission and other financial regulatory authorities have listed financial support for carbon neutral as their key work in 2021, and given priority to scientific and technological innovation. Yi Gang, governor of the people’s Bank of China, made it clear in December 2020 that the people’s Bank of China will continue to explore the use of financial technology to develop green finance. In the future, big data, artificial intelligence, blockchain and other financial technology means will have a great application prospect in green finance.

Since 2019, the research group has started to conduct annual follow-up research on the application of China’s financial technology in the field of green finance. In 2020, there will be 59 financial technology companies active in the field of green finance in China, including 41 green financial technology enterprises and 18 technology service companies under financial institutions or financial investment groups. Through the follow-up investigation and analysis of 41 financial technology companies focusing on green finance, we find that:

From the perspective of green financial business, the use of financial technology tools is mainly concentrated in green credit, green fund, green energy market, green bonds and other business areas. Among them, the utilization rate of these tools in green credit and green fund business is relatively high, while in environmental equity market, green trust and green leasing business is relatively lacking.

From the perspective of application scenarios, the use of financial technology tools covers ESG (environment, society and Governance) investment and financing, national carbon market trading, green building, green consumption, green agriculture, small and micro enterprises and other fields.

From the perspective of basic data and tools, financial technology is widely used in environmental data, ESG data and evaluation, environmental benefit measurement and risk monitoring, information sharing system and green credit information management system of financial institutions. The application of financial technology in the fields of green asset identification and traceability, environmental and climate financial risk quantitative assessment and credit risk management becomes the next step.

From the perspective of application subjects, green financial technology mainly serves government agencies, financial regulatory departments, financial institutions, enterprises and individual users. In terms of the number of projects, the proportion of local financial regulatory departments is about 50%, while the central financial regulatory department and individual users have only one project each, providing green financial regulatory services for the central financial regulatory department and carbon footprint and carbon score for individuals.

From the perspective of technology application, big data, artificial intelligence and cloud computing are still the three main technologies to promote the development of green finance in China. The application of blockchain and Internet of things is relatively less, but it can be predicted that the whole process of real-time information collection will get rapid development and application in the future.

From the perspective of regional distribution, the agglomeration effect of green financial technology enterprises in Beijing and Shanghai is remarkable. Among them, Beijing has 16 enterprises, ranking first in China; The registered capital of enterprises in Shanghai ranks first in China, exceeding 1.34 billion yuan; About 80% of green financial technology practitioners are concentrated in Shanghai and Beijing.

From the perspective of capital flow, international capital’s attention to China’s green financial technology is increasing. In this survey, nearly a quarter of green financial technology companies are foreign-funded or joint ventures. Among them, six technology companies registered abroad carry out green financial services business in China, including green fund, green energy market and carbon finance.

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