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China-Hungary Green Bond Cooperation: A Review and Promising Prospects

Author

Listed:
  • Bin Hu

    (Tsinghua University)

  • Chaoyi Chen

    (Magyar Nemzeti Bank, Budapest Metropolitan University)

  • Yueran Zhang

    (Renmin University of China)

Abstract

Amid increasing climate change challenges, the European Union (EU) aims to reduce net greenhouse gas emissions by 90 per cent by 2040, necessitating substantial green financing, which aligns with China's commitment to carbon neutrality by 2060. This shared objective creates opportunities for deeper collaboration in green finance and technology. Hungary, a key partner in China's green finance initiatives within the EU, has significantly strengthened its economic ties with China. This paper reviews past China-Hungary green bond collaborations and offers recommendations to enhance future cooperation. Key suggestions include improving communication and coordination to manage financial risks, advocating for bidirectional green bond market openings, establishing mutual recognition mechanisms for green bond standards and enhancing transparency through improved information disclosure systems.

Suggested Citation

  • Bin Hu & Chaoyi Chen & Yueran Zhang, 2024. "China-Hungary Green Bond Cooperation: A Review and Promising Prospects," Financial and Economic Review, Magyar Nemzeti Bank (Central Bank of Hungary), vol. 23(4), pages 204-218.
    • Handle: RePEc:mnb:finrev:v:23:y:2024:i:4:p:204-218
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    References listed on IDEAS

    as
    1. Quang Phung Thanh, 2022. "Economic effects of green bond market development in Asian economies," Journal of Risk Finance, Emerald Group Publishing Limited, vol. 23(5), pages 480-497, October.
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