Shanghai Stock Exchange, Circular on Launching a Pilot Project for Green Corporate Bonds

上海证券交易所关于开展绿色公司债券试点的通知

March 18, 2016 | BY

Susan Mok &clp articles &

Shanghai Stock Exchange encourages the offering of green corporate bonds.

Clp Reference: 3700/16.03.16

Issued: March 16 2016

Effective: as of date of issuance

Applicability: For the purposes of this Circular, the term “green corporate bonds” means corporate bonds offered in accordance with the Measures for the Administration of Corporate Bonds and related rules, and the proceeds of which are used to support green industries. For the scope of green industry projects, reference may be made to the List of Green Bond Supported Projects (2015) prepared by the Green Finance Committee, China Society for Finance and Banking and the green industry projects determined by relevant organizations recognized by the Shanghai Stock Exchange (Article 1).

Main contents: The prospectus for an offering of green corporate bonds shall include contents such as the type of green industry projects in which the proceeds are to be invested, the basis or criteria for the determination of projects, environmental impact targets, and the plan for the use and the system for the management of the proceeds from the green corporate bonds (Article 2(1)).

Financial institutions, securities investment funds and other investment products, social security funds, enterprise annuities, social welfare funds, enterprises, public institutions and other such institutional investors are encouraged to invest in green corporate bonds (Article 10).

Matters related to the preliminary review or confirmation of the listing conditions for the listing on the Shanghai Stock Exchange of green corporate bonds issued by qualified foreign companies as well as the listing and the trading or transfer thereof on the Shanghai Stock Exchange shall be handled with reference hereto (Article 12).

Related legislation: People's Bank of China, Announcement [2015] No.39; Measures for the Administration of the Offering and Trading of Corporate Bonds; Shanghai Stock Exchange, Rules for the Listing of Corporate Bonds; and Shanghai Stock Exchange, Tentative Measures for the Administration of the Private Placement of Corporate Bonds

clp reference:3700/16.03.16

Issued: March 16 2016

Effective: as of date of issuance

Applicability: For the purposes of this Circular, the term “green corporate bonds” means corporate bonds offered in accordance with the Measures for the Administration of Corporate Bonds and related rules, and the proceeds of which are used to support green industries. For the scope of green industry projects, reference may be made to the List of Green Bond Supported Projects (2015) prepared by the Green Finance Committee, China Society for Finance and Banking and the green industry projects determined by relevant organizations recognized by the Shanghai Stock Exchange (Article 1).

Main contents: The prospectus for an offering of green corporate bonds shall include contents such as the type of green industry projects in which the proceeds are to be invested, the basis or criteria for the determination of projects, environmental impact targets, and the plan for the use and the system for the management of the proceeds from the green corporate bonds (Article 2(1)).

Financial institutions, securities investment funds and other investment products, social security funds, enterprise annuities, social welfare funds, enterprises, public institutions and other such institutional investors are encouraged to invest in green corporate bonds (Article 10).

Matters related to the preliminary review or confirmation of the listing conditions for the listing on the Shanghai Stock Exchange of green corporate bonds issued by qualified foreign companies as well as the listing and the trading or transfer thereof on the Shanghai Stock Exchange shall be handled with reference hereto (Article 12).

Related legislation: People's Bank of China, Announcement [2015] No.39; Measures for the Administration of the Offering and Trading of Corporate Bonds; Shanghai Stock Exchange, Rules for the Listing of Corporate Bonds; and Shanghai Stock Exchange, Tentative Measures for the Administration of the Private Placement of Corporate Bonds

clp reference:3700/16.03.16

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