China's National Green Development Fund was jointly initiated and established by the Ministry of Finance, the Ministry of Ecology and Environment, and the Shanghai Municipal People's Government.
The central government contributed CNY 10 billion, while the Ministry of Finance, 11 provinces and cities along the Yangtze River Economic Belt, and related industries jointly contributed funds for a final scale of CNY 88.5 billion.
The fund will:
- directly invest in environmental protection, pollution control and ecological restoration projects
- provide financial support for solutions against pollution
- supports the development of green industries in response to market demand
- promote green technology R&D
- provide systematic industrial support for ecological and environmental initiatives
- promote the green transformation of the economy