Addressing climate change through green finance has become a global priority, with China and the EU emerging as leading practitioners of distinct development models. This study compares their green finance mechanisms across three dimensions: policy frameworks, standardization, and market innovation. China adopts a state-led approach, characterized by top-down policy design and rapid market expansion, but faces challenges in standard unification and product diversification. The EU prioritizes legislation-driven frameworks, including binding taxonomy systems and stringent disclosure requirements, yet struggles with flexibility and SME participation costs. While China leads in green bond issuance volume, its product structure remains concentrated in traditional loans and bonds. In contrast, the EU excels in market-based incentives and carbon trading but grapples with "greenwashing" risks. Both regions face structural bottlenecks in aligning financial flows with climate targets. This comparative analysis highlights the need for hybrid governance modelsintegrating Chinas policy efficiency with the EUs regulatory rigorto advance global green finance interoperability and innovation.
Jue Yan (Wed,) studied this question.
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