China's First Sovereign Green Bonds

China marked a significant step in sustainable finance by issuing its inaugural sovereign green bonds in April 2025 on the London Stock Exchange. This dual-tranche offering, denominated in RMB and totalling 6 billion yuan, attracted strong international investor demand. The issuance signifies China's commitment to its climate goals, the advancement of RMB internationalisation, and the harmonisation of its green finance standards with global practices. Supported by a comprehensive Sovereign Green Bond Framework aligned with both domestic and international principles, the bonds will fund environmentally beneficial projects. This landmark transaction establishes a crucial benchmark for RMB-denominated green bonds and underscores China's growing role in the global green finance market.