Pudong New Area has been leveraging the scale of its financial industry and the openness of its financial sector to promote the innovative development of green finance.

The "several provisions on the development of green finance in Pudong New Area, Shanghai" was officially implemented in 2022. This was an attempt at legislative discretionary right in the financial field by Shanghai and Pudong New Area for the first time.

Pudong Financial Services Bureau, in collaboration with China Securities Index, has compiled both the CSI Pudong New Area green 50 ESG (Environmental, Social, and Governance) index and the CSI Pudong New Area green theme credit bond index, which are China's first green stock and bond indices focusing on regional development. These were announced and released on May 8.

As of the end of July 2023, the Pudong green 50 ESG index covered 50 publicly listed companies registered in Pudong with a total market value of 2.3 trillion yuan ($315.1 billion yuan). The Pudong green theme credit bond index includes 169 green bonds with a total market value of 630 billion yuan.

"We are combining the industrial characteristics of Pudong, enhancing the intensity of financial services for the real economy, and have launched three major green finance special service plans, namely the green credit plan, green securities plan, and green leasing plan," said Wu Jinxue, the deputy director of the Pudong Financial Services Bureau.