An aerial view of Suzhou High-Speed Rail New Town. (CFP)

Jiangsu has recently issued a directive to strengthen support for green finance in order to promote the high-quality development of green buildings.

Green buildings refer to structures that prioritize energy efficiency, environmental protection, and pollution control throughout their entire lifecycle, ultimately contributing to the harmonious coexistence between humans and nature.

Jiangsu is a national leader in green building development. In 2015, the province became the first in China to implement a regulation for the endeavor, marking a legal approach to advance the initiative. As a result, the proportion of green buildings in new constructions rose from 31.9% in 2015 to 100% in 2023. Additionally, Wuxi, Suzhou, Changzhou and Yancheng have pioneered pilot zones to peak carbon emissions and achieve carbon neutrality during urban and rural construction.

Lu Hongwei, Chief Engineer of the Jiangsu Provincial Department of Housing and Urban-Rural Development, said that the new directive aims to enhance green financial services for green buildings. These efforts include the construction and operation of eco-friendly buildings, and equipment upgrades for energy conservation, encompassing the entire industry chain across both urban and rural areas.

The directive also innovatively proposes using performance evaluation report of green buildings as a reference for determining credit support. Jiangsu encourages financial institutions to offer differentiated interest rate discounts based on energy efficiency of buildings.