Julie Becker, Deputy CEO of LuxSE and Founder of LGX;
Credit: LuxSE
China Development Bank (CDB), the world’s largest development bank, joined today the Luxembourg Green Exchange (LGX), with the display of its first domestic green bond.
The ¥10 billion bond is the first of its kind to be simultaneously displayed on the China Interbank Market through Shanghai Clearing House, the Shanghai Stock Exchange and LGX.
Julie Becker, Deputy CEO of LuxSE and Founder of LGX, commented: “It is with great pleasure that we welcome CDB to LGX today, marking an important step in our growing relationship with China’s capital market, which we have proudly fostered over the last 10 years. Bringing this issuance to the international sphere is an important step forward in uniting Chinese domestic and international capital markets, while pushing forward the global sustainable finance agenda".
Through increased global cooperation, the once closed-off Chinese domestic market is entering the international stage with this milestone issuance bearing a Climate Bonds Initiative certified stamp, as well as adherence to PBoC standards.
The relationship between LuxSE and CDB dates back to 1999, when the development bank listed its global $500 million bond on the exchange’s Bourse de Luxembourg (BdL) market. Since then, LuxSE’s relationship with the development bank and the wider Chinese capital markets system has gone from strength to strength. In 2018, LuxSE established a Green Bond Channel together with the Shanghai Stock Exchange, where this domestic green bond is also listed and open to trading. This initiative was broadened further in 2019, when LuxSE joined forces with Shanghai Clearing House and China Construction Bank to facilitate access to financial information on Chinese securities, while simplifying the execution process.
