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allocation of eco-environmental resources.

In order to boost green finance, China has developed a multi-level

market and a portfolio of green financial products, such as green credit,

green bonds, green insurance, green funds, and green trust. At the end of

2021 China’s green loan balance in RMB and foreign currencies stood

at RMB15.9 trillion, and its outstanding green bonds at RMB1.1 trillion,

both ranking among the largest in the world.

VII. Building the Earth into a Beautiful Home

Green development and eco-environmental progress are the re-

sponsibility of all humanity. China has always been a major participant,

contributor, and torchbearer in the global movement for building an eco-

civilization. It firmly safeguards multilateralism, and is actively forging

an international eco-environmental governance pattern in which countries

align their interests and share their rights and responsibilities. This is how

China does its part in pursuing the sustainable development of humanity.

1. Participating in global climate governance

Following the principles of equity, common but differentiated re-

sponsibilities and respective capabilities, China has acted in accordance

with the United Nations Framework Convention on Climate Change, ac-

tively participated in global climate negotiations in a constructive manner,

and made historic contributions to the conclusion and implementation of

the Paris Agreement. In doing so, it helps to build a fair, rational, and mu-

tually beneficial global climate governance system.

China has reinforced the effort to achieve its Nationally Determined

Contributions (NDCs). It will make the steepest cuts in the world to the

intensity of its carbon emissions, and complete the process from carbon

emissions peaking to carbon neutrality in the shortest span of time. This

fully demonstrates its strong sense of responsibility as a major country.

China is also an active participant in South-South cooperation on

climate change. Since 2016, working in other developing countries, it has

launched 10 low-carbon demonstration zones, 100 projects for climate

change mitigation and adaption, training sessions on climate change re-

sponse for 1,000 people, and more than 200 foreign assistance programs

on climate change.

International cooperation on climate change may encounter difficul-

ties and setbacks, but China will remain committed to improving global

climate governance and taking solid actions. As always, it will work with

firm resolve towards the goals of carbon emissions peaking and carbon neu-

trality, actively participate in international cooperation on climate change,

engage in international negotiations on climate change in a constructive

manner, and do everything in its power to support and assist other devel-

oping countries in this realm. In doing so, China will continue to contrib-

ute to global efforts to tackle the grave challenge of climate change.

2. Building a green Belt and Road

China is committed to working with other countries on promoting

green development under the Belt and Road Initiative (BRI), making it a

green initiative. In order to establish a cooperation mechanism for green

and low-carbon development under the BRI, China has signed an MoU

with the United Nations Environment Programme on building a green

Belt and Road, and reached more than 50 cooperation agreements on eco-

environmental conservation with relevant countries and international

organizations. It has also launched the Initiative for Belt and Road Partner-

ship on Green Development with 31 countries, established the Belt and

Road Energy Partnership (BREP) with 32 countries, led the creation of

the Belt and Road Initiative International Green Development Coalition

(BRIGC), founded the BRI Green Development Institute, and launched

the BRI Environmental Big Data Platform.

China has helped other participants in the BRI to build up their en-

vironmental governance capacity and improve their people’s well-being.

It also helps these countries in training personnel for green development,

having trained 3,000 people from more than 120 countries under the

Green Silk Road Envoys Program. China formulated the Green Invest-

ment Principles for the Belt and Road to encourage such investments in

related regions. Concurrently, Chinese enterprises have funded renewable

energy projects in other BRI countries, and helped them build a number

of major clean energy facilities. All these efforts have boosted green de-

velopment in these countries.

3. Carrying out extensive bilateral and multilateral cooperation

China has taken active steps to advance practical cooperation on sav-

ing resources and protecting the eco-environment. It successfully hosted

the first part of the 15th meeting of the Conference of the Parties to the