The Application Analysis Of Innovative Green Financial Products In China

For a long time,the pattern of economic development of China,which is consumption resources system,seriously damages the natural ecological environment.Green finance creates a connection between the green industry and the financial industry;it can provide significant financial support for economic transformation.As the market changes,the innovation of green finance is significant.Appearing as an innovation of green finance,green bonds retain the advantages of ordinary bonds financing with “green” attribute,which is not only can lead enterprises to improve environment and protect ecology,but also can meet the demand of enterprises financing.The purpose of this paper is to provide some advices for the application and promotion of innovative green financial products in China by analyzing the first domestic green bond.With the background of the overview of green financial products and green bonds,this paper analyzes CGN Wind Energy Limited green bond,the first domestic green bond.The analysis revolves around the green bond financing mode,financing structure,solvency ability and the innovation.Firstly,it compares the advantages and disadvantages of the traditional financing mode and the green bond financing mode of CGN Wind Power Co.,Ltd,which is to obtain the feasibility of the company's choice of green bonds and the impact.Secondly,the innovative structure of the green bond is analyzed and the floating interest rate is discussed based on the discounted cash flow model.Thirdly,it analyzes the solvency ability of the green bond and prompts the investment risk.Further,this paper summarizes the analysis to extract the innovation aspects of green bonds,such as financing maturity,financing structure,the sources and uses of funds.Then,this paper analyzes the promotion of green bond in China.Finally,based on the case study,this paper puts forward some suggestions to promote the application and promotion of innovative green financial products in China.Last but not least,this paper suggests that government should provide financial and fiscal policies support;seize the opportunity to apply and promote innovative green financial products step by step;consummate the green financial facilities and improve the feasibility of the application and promotion of innovative green financial products.Moreover,it is suggested that regulatory authorities should coordinately develop the standard definition of "green";simplify audit procedures and improve audit efficiency;broaden the qualified enterprises by decreasing the requirement.In addition,it is also suggested that financial institutions should realize the market risk and carry out strict information disclosure mechanism;provide more trains for the employee to improve their risk management ability of innovative green financial products.