China update: central bank’s new green bond market regulations drafted; big banks queuing to issue
Today I’m in Beijing. I’ve just had a meeting with a humungous bank – everything is just so over-sized in this country, with this bank having over 300,000 staff and assets of more than US$1 trillion.
Evene the central bank has 400,000 staff for goodness sake! And my friends at the Beijing City Finance Bureau – still housed in a basic 1970s building a bit like the high school I went to – are now handling a trillion dollar infrastructure investment plan for 120 million people (in the newly merged economic zone of Beijing, Tianjin and Hebei).