A Case Study Of Wuhan Metro Group Issued Green Bonds

China's economic development has entered a new normal,and for the long-term sustainable development of China's economy,industrial restructuring and upgrading,economic restructuring,has become an urgent need now.The Party Central Committee has proposed the concept of green development,strengthening the construction of ecological civilization,and building a green financial system.Green bonds are one of the important contents of the green financial system.The important role of direct financing cannot be ignored.The so-called green bond has the same general elements as ordinary bonds.The difference is that the raised funds need to match green projects.The official launch of China's green bond market started from the end of 2015,and by 2017 the total scale of China's green bond issuance has reached the top in the world.Judging from the status quo of the development of China's green bond market,non-financial companies have strong demand for green bond issuance,and the performance of green corporate bonds is more prominent.The Wuhan Metro Group has rich experience in this area.Therefore,the case selects the first single green bond of Wuhan Metro Group-16 Metro GN002 is the analysis target.This article has defined the concept of the concept of green finance from the equatorial principle of the origin of green finance to understand the profound meaning of green finance,based on the international comparison of common green bond standards,and then applied to the actual situation in China,the existence of green bonds A more specific definition is that green bonds refer to bonds that are specially invested in green projects to raise funds.Most of the domestic and foreign standards for green projects are the same,and their purpose is to have positive effects on the environment.In the case analysis,we grasped the nature of the green bond financing model,and based on the classical financing model selection theory,we analyzed why the choice of green bond financing was the first choice in this activity from the perspective of maximizing the value of the company.Through the analysis of the issuing conditions and related policies of domestic green corporate bonds,the main conditions for the successful issuance of green bonds in the current period and the effect on the companies brought by the issuance of green bonds were summarized.Finally,it analyzes the most important issue interest rate and redemption ability in the properties of green bond bonds.The issuance interest rate is the main cost for the enterprise and is the main value for investors.How to balance between the two needs more The implementation of the policy and the ability to cash back are the aspects that investors are most concerned about and also have a very important impact on price expectations.Based on the above analysis,from the perspective of the company,we can summarize the lessons that can be learned from this case,and put forward the policy suggestions that will help China's non-financial companies issue green bonds.The case of Wuhan Metro Group's issuance of green bonds summarized the experience worthy of non-financial companies issuing green bonds for reference from the perspective of enterprises,affirmed the development results of green bonds in China,and affirmed the importance of green bonds in the direct financing of Chinese enterprises.The significance of green bonds for the construction of a green financial system and its practical role in China's ecological civilization.China's green bonds can be further developed,and there is still a certain distance from the actual needs.It also requires the joint efforts of governments,enterprises,investors,financial institutions and regulatory agencies.