Study On The Case Of QingXinHuanJing Company's Green Bond Financing

With the continuous development of the green financial system and the increasing environmental awareness of the government and the public,the development of green bonds at home and abroad is impressive.In western developed countries,green bonds have developed earlier.The experience shows that the emergence of green bonds has accelerated the transition from traditional economy to green,and can effectively reduce the financing costs of enterprises while broadening the financing channels of enterprises.In China,green bonds started late,but under the support and guidance of relevant national policies,the issuance of green bonds in financial enterprises in China has formed a scale and matured,and the issuance of non-financial enterprises is in a booming stage.The existing research on green bonds is mainly concentrated in the institutional field.There are few case studies on the issuance of green bonds by enterprises,and there are few case studies on the issuance of green bond financing by non-financial companies.Therefore,in-depth research on the whole process of issuing green bonds by non-financial companies reveals that the problems in the process of corporate financing are of great significance to the future development of green bond financing companies and government departments.Qingxinhuanjing Company is an environmental protection enterprise that issues green bonds in the early stage of China's green bond pilot.Its flexible bond maturity and interest rate clauses increase the investment value of bonds,prompting the successful issuance of its bonds,and its bond coupon rate is the same as the credit period.The level of corporate bond interest rates is low,saving the issuer financing costs.The case of Qingxinhuanjing's green bond financing is an advanced case in the development of China's green bonds.This paper takes the form of case study and analyzes the motivations and risks of issuing green bonds by Qingxinhuanjing Company on the basis of combing domestic and foreign research and related theories.And the effect,summed up its successful experience and existing problems,and draw corresponding enlightenment,in order to accumulate experience for the study of China's green bonds.According to the analysis of this paper,under the background of national policies encouraging enterprises to issue green bonds,Qingxinhuanjing Co.,Ltd.,in combination with its own situation,chooses to issue green bonds for financing,which not only satisfies the capital needs of the company's development,but also broadens the financing channels of the company.Optimized the debt structure,reduced financial costs,and brought a green reputation to the company,which enhanced the company's market value.The success of Qingxinhuanjing's green debt financing,in addition to the support of national policies,is also inseparable from its own efforts.It protects the interests of investors by setting flexible bond maturities and interest rate clauses.It is favored by investors;it chooses the right time to issue,making it easier to achieve green bond financing at low cost.However,in the process of green bond financing,there are still some problems,such as lack of professional third-party certification of green bonds,insufficient disclosure of information related to green bonds,and high repayment risk of green bonds,which should also be taken seriously.Based on this,this paper draws the corresponding revelation.For companies that intend to raise funds through green bonds in the future,they should be cautious in issuing green bonds.They should pay attention to future risks,set reasonable interest rate clauses,and conduct professional third-party certification to enhance bond credibility.In order to attract investors to invest,in addition,during the bond's existence,the disclosure of information related to green bonds should also be strengthened.For government departments,it is necessary to improve the green bond standard and the third-party certification system to achieve unified judgment of green projects;improve the information disclosure system to regulate the market order;increase support for green bonds,and enhance the enthusiasm of all sectors to issue green bonds.Promote the concept of social responsibility and actively cultivate green investors.