List of CGT-Aligned Chinese Outstanding Green Bonds (August 2025 Version)

2025-09-01 10:10:13

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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 July 2025 against the CGT.

14 green bonds supporting projects on climate mitigation have been newly identified as CGT-aligned, with a total scale of RMB 14.4 billion. Among these, 7 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	CND10009KFQ4	CMB FINANCIAL LEASING GREEN BOND 25(01)	15.00
2	CND10009H494	HN HYDROPOWER GN 25(006)(TECH INNO BOND)	10.00
3	CND10009HQM6	LU HONGQIAO GN 25(004)(TECH INNO BOND)	5.00
4	CND10009HPS5	JIN CAPITAL ENVIR PROT MTN 25(001)(GREEN)	5.00
5	CND10009HSK6	HN HYDROPOWER GN 25(007)(TECH INNO BOND)	20.00
6	CND10009JC05	CHINA GAS GN 25(004)	4.00
7	CND10009K3Y9	HUADIAN JIANGSU GN 25(001)	2.00
8	CND10009K3Z6	HUADIAN LEASING MTN 25(003)(GREEN)	5.00
9	CND10009K3P7	STATE GRID LEASING MTN 25(005)(GREEN)	4.00
10	CND10009K548	CGN WIND ENERGY GN 25(002)(RURAL REVITALIZATION)	40.00
11	CND10009K5C0	CHINA NUCLEAR LEASING MTN 25(002)(CNB)	4.00
12	CND10009KG24	HENAN POWER GENERATION MTN 25(002)(GREEN)	10.00
13	CND10009KJG7	HUANENG HYDROPOWER GN 25(008)(RURAL REVI)	15.00
14	CND10009KK28	TONGWEI GN 25(001)(TECH INNO BOND)	5.00

In July 2025, 6 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	CND10005CJK4	XINHUA HYDROPOWER GN 22(001)	10.00
2	CND10005D103	HN HYDROPOWER GN 22(001)(SUSTAINABILITY-LINKED)	20.00
3	CND10005D5K6	YALONG RIVER GN 22(003)(CARBON NEUTRAL BOND)	10.00
4	CND10006PQ12	CNNP RICH ENERGY MTN 23(001) A (CN BOND)	10.00
5	CND10005GT45	22 CEXIM GREEN BOND SHCH 03	50.00
6	CND1000969C3	HUANENG HYDROPOWER GN 25(002)(RURAL REVI)	14.00

As of July 31, 2025, expert group has evaluated a total of 454 CGT-aligned Chinese green bonds traded in the interbank market, 276 of which remain in duration.

The 276 outstanding bonds account for 25.0% of the total number of outstanding green bonds in the interbank market, with an issuance scale of RMB 352.431 billion, accounting for 17.9% 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 93.1%, 4.7%, 0.3% and 2.0% respectively. The top three allocations of use of proceeds are D1.3 Electricity generation from wind power (25.8%), H1.1 Construction and operation of public transportation system in urban and rural areas (24.9%), and D1.5 Electricity generation from hydropower (18.5%).

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 (August 2025 version)

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List of CGT aligned Chinese green bonds (August 2025 version).xlsx
List of CGT aligned Chinese green bonds (August 2025 version).pdf