8. Yuan-denominated green bonds issued by BRICS New Development Bank and Shanghai Pudong Development Bank

Green bonds are first issued by Shanghai Pudong Development Bank and BRICS New Development Bank in January and July 2016 respectively. [Photo provided to chinadaily.com.cn]

In January, Shanghai Pudong New Development issued a green bond of 20 billion yuan ($2.9 billion), which was China's first domestic green bond.

In July, BRICS New Development Bank issued its first renminbi-denominated green financial bond of 3 billion yuan, the first of its kind issued by a China-headquartered international financial institution. The issuing of the bond shows the international financial institution's confidence in the internationalization of the renminbi (RMB) as well as its contribution to the growth and development of the global green economy.