Analysis Of The Causes And Effects Of City Commercial Banks’ Issuance Of Green Bonds

In recent years,in order to encourage financial institutions to help transform and upgrade my country’s economic structure,support the transformation of my country’s economic development model to a high-quality green economic development model,and promote the transformation and upgrading of traditional high-polluting enterprises to green enterprises,my country has begun to learn from developed countries.Establish a green bond market that meets my country’s national conditions,allow all types of companies that meet the standards to issue green bonds,and encourage major financial institutions to issue green bonds to raise funds to help the development of my country’s green economy.However,the industrial structure and development methods of various regions in my country are different.In order to make up for the lack of support from various large financial institutions for the development of green economy in various regions,my country began to pilot city commercial banks(hereinafter referred to as"city commercial banks")to issue green bonds to raise funds in 2016.,To encourage small and medium-sized city commercial banks to further support the development of green economy in various regions.So far,eligible city commercial banks across the country have actively applied for the issuance of green bonds to support the development of green economy in all regions of the country.As a city commercial bank with greater influence in Jiangxi Province and the whole country,Bank of Jiujiang issued two green bonds in 2018 and successfully raised RMB 4 billion to help the development of the regional economy.In the main body of this article,the green bonds issued by Jiujiang Bank are used as the case study object.The first chapter introduces the relevant research background,research significance,research ideas,and domestic and foreign scholars’ research on green bonds.The second chapter clarifies the definition and connotation of green bonds,and introduces the relevant research theories needed for follow-up analysis such as orderly financing theory,information asymmetry theory,reputation theory,etc.At the same time,it summarizes the development history of green bond issuance and issuance of green bonds by city commercial banks in China The historical opportunities brought to city commercial banks and the analysis of the problems existing in the process of green bond issuance by city commercial banks are briefly summarized.The third chapter introduces the basic situation of Jiujiang Bank and analyzes the operation of Jiujiang Bank in recent years.It introduces the basic overview of Jiujiang Bank’s green bond business,including the development strategy of Jiujiang Bank’s green bonds,green bond investors and issuance locations,and green bonds Case studies will be introduced in terms of issuance quota and period,raised capital management system,green bond risk management system,and information disclosure system.At the same time,it also introduced the main investment and use of the funds raised by Jiujiang Bank.Chapter 4 analyzes the motivations of Jiujiang Bank’s issuance of green bonds from the perspective of macro policy and from the perspective of Jiujiang Bank itself,including the analysis of the issuance of green bonds by Jiujiang Bank in terms of government policies,selection of financing methods,and reputation theory.Analyze the effects of the issuance of green bonds by Jiujiang Bank from the perspective of financial data,regulatory indicators,and environmental and economic benefits.At the same time,it compares the efficiency evaluation system of green projects between Jiujiang Bank and Industrial Bank,and gives some suggestions on the design of green project efficiency evaluation system for city commercial banks.In Chapter 5 of this article,by analyzing the case of Jiujiang Bank’s issuance of green bonds,the main conclusions reached are as follows:(1)Jiujiang Bank has enriched its refinancing channels by participating in the wave of green bond issuance and reduced At the same time,compared with other financing tools,the cost of issuing green bonds is relatively low,which can enhance its profitability;(2)Jiujiang Bank brings the local society a boost by issuing green bonds.There are direct economic and environmental benefits;(3)Jiujiang Bank’s choice to issue green bonds can increase the bank’s media exposure,form the bank’s long-term reputation,enhance its market value,and help Jiujiang Bank’s image as a "green bank" Enhance the future competitiveness of Jiujiang Bank.Suggestions for accelerating the development of green bonds for city commercial banks in my country are put forward:(1)Regarding government policies,the People’s Bank of China should strengthen guidance for city commercial banks’issuance of green bonds and help them improve the internal management system for green bond issuance;the People’s Bank of China should coordinate relevant issues The department formulates the standards for the intermediary fees incurred during the issuance of green bonds,moderately reduces the intermediary service fees for green bond issuance,and further reduces the financing costs of green bond issuance by city commercial banks;the state should establish a unified evaluation agency for the benefits of green projects.(2)Regarding the green bond market,the introduction of more regulatory documents for information disclosure and the identification of green enterprise standards can enable city commercial banks to issue green bonds in a more standardized manner and conduct follow-up management.(3)A considerable number of city commercial banks are still difficult to meet the issuance conditions.It is suggested that city commercial banks should strengthen their own business conditions,make themselves meet the standards of regulators,and further improve the long-term development plan for green finance within city commercial banks;it is recommended that city commercial banks can learn from Jiujiang Bank has a good system.For example,like Jiujiang Bank,a green finance business department can be established to be responsible for the identification,review,and registration of green projects.