China, People's Republic of: Supporting Sustainable Finance and Regional Cooperation

Sovereign (Public) Project | 54120-001

The knowledge and support technical assistance (TA) will promote responsible and sustainable financing in the People's Republic of China (PRC) and support regional learning and knowledge sharing. Specifically, the TA will (i) help financial sector regulators and institutions in the PRC adopt international best practices in responsible and sustainable finance; (ii) develop innovative financial sector products in areas such as green financing, blue financing, disaster risk financing, and longevity financing; and (iii) support the dissemination of the PRC experiences in these areas through the Asia and Pacific region, especially in the Association of Southeast Asian Nations (ASEAN) countries. Although the Greater Mekong Subregion (GMS) currently does not have a financial development platform, the sustainable finance knowledge and experiences can still be promoted.

Project Details

  • Project Officer
    Huang, Anqian
    East Asia Department
    Request for information
  • Country
    China, People's Republic of
  • Sector
    • Finance
Project Name Supporting Sustainable Finance and Regional Cooperation
Project Number 54120-001
Country China, People's Republic of
Project Status Active
Project Type / Modality of Assistance Technical Assistance
Source of Funding / Amount
TA 6687-PRC: Supporting Sustainable Finance and Regional Cooperation
Technical Assistance Special Fund US$ 497,000.00
Financial Sector Development Partnership Special Fund US$ 200,000.00
Regional Cooperation and Integration Fund US$ 803,000.00
Strategic Agendas Environmentally sustainable growth
Inclusive economic growth
Regional integration
Drivers of Change Governance and capacity development
Knowledge solutions
Partnerships
Private sector development
Sector / Subsector

Finance / Finance sector development

Gender Equity and Mainstreaming No gender elements
Description The knowledge and support technical assistance (TA) will promote responsible and sustainable financing in the People's Republic of China (PRC) and support regional learning and knowledge sharing. Specifically, the TA will (i) help financial sector regulators and institutions in the PRC adopt international best practices in responsible and sustainable finance; (ii) develop innovative financial sector products in areas such as green financing, blue financing, disaster risk financing, and longevity financing; and (iii) support the dissemination of the PRC experiences in these areas through the Asia and Pacific region, especially in the Association of Southeast Asian Nations (ASEAN) countries. Although the Greater Mekong Subregion (GMS) currently does not have a financial development platform, the sustainable finance knowledge and experiences can still be promoted. The combined efforts are expected to generate meaningful regional public goods (RPG) through the delivery of environmental and social benefits and promote greater regional cooperation and integration (RCI) in financial sector development.
Project Rationale and Linkage to Country/Regional Strategy In line with the preparation of its 2021 2025 PRC country partnership strategy (CPS), ADB is focusing on and stepping up support for building climate change resilience, fostering environmental sustainability, and tackling emerging social issues (such as old age care) in the country. These areas all offer strong potential for creating RPGs. For the new CPS objectives to be met, the PRC's financial sector needs to take steps to become more effective and innovative in addressing the environmental and climate challenges, including a green economic recovery from the coronavirus disease (COVID-19). This includes the adoption of international best practices, particularly those needed to make its financing activities responsible and sustainable. Promoting RPGs and strengthening financial sector cooperation both feature prominently in ADB's Strategy 2030 operational priority of supporting RCI. In line with this goal, the TA will aim to expand the concepts, practices, and benefits of responsible and sustainable financing through the ASEAN+3's existing financial cooperation platforms. During the time of the preparation of this TA paper, the PRC Country Operations Business Plan 2019 2021 is still under preparation. The TA is included in the list of projects agreed between the Asian Development Bank and the Government of the PRC on 22 January 2020.
Impact

Sustainable environment promoted.

Sustainable development and regional cooperation and integration promoted.

Project Outcome
Description of Outcome Responsible and sustainable financing in the ASEAN, inclusive of GMS, and CAREC member countries, and the PRC improved
Progress Toward Outcome
Implementation Progress
Description of Project Outputs

Strategy, policy, and technical advice on responsible and sustainable finance in the PRC provided

Sustainable financial sector regulation and supervision systems strengthened

Innovative financial products developed

Regional cooperation and integration on responsible and sustainable financing promoted

Status of Implementation Progress (Outputs, Activities, and Issues) Recruitment of consultants, individuals and firm, are ongoing.
Geographical Location Nation-wide
Summary of Environmental and Social Aspects
Environmental Aspects
Involuntary Resettlement
Indigenous Peoples
Stakeholder Communication, Participation, and Consultation
During Project Design
During Project Implementation
Business Opportunities
Consulting Services The TA will engage international and national consultants following the ADB Procurement Policy (2017, as amended from time to time).
Procurement No procurement of goods.
Responsible ADB Officer Huang, Anqian
Responsible ADB Department East Asia Department
Responsible ADB Division Public Mgt, Financial Sector and Regional Coop Division, EARD
Executing Agencies
Asian Development Bank
6 ADB Avenue,
Mandaluyong City 1550, Philippines
China Banking Regulatory Commission
33A Fangcheng Street,
Xicheng District, Beijing
People's Rep of China
Timetable
Concept Clearance 08 Sep 2020
Fact Finding 04 Nov 2020 to 05 Nov 2020
MRM -
Approval 17 Dec 2020
Last Review Mission -
Last PDS Update 20 Jul 2021

TA 6687-PRC

Milestones
Approval Signing Date Effectivity Date Closing
Original Revised Actual
17 Dec 2020 31 Dec 2020 31 Dec 2020 31 Dec 2025 - -
Financing Plan/TA Utilization Cumulative Disbursements
ADB Cofinancing Counterpart Total Date Amount
Gov Beneficiaries Project Sponsor Others
1,500,000.00 0.00 0.00 0.00 0.00 0.00 1,500,000.00 07 Sep 2021 46,515.67

Project Data Sheets (PDS) contain summary information on the project or program. Because the PDS is a work in progress, some information may not be included in its initial version but will be added as it becomes available. Information about proposed projects is tentative and indicative.

The Access to Information Policy (AIP) recognizes that transparency and accountability are essential to development effectiveness. It establishes the disclosure requirements for documents and information ADB produces or requires to be produced.

The Accountability Mechanism provides a forum where people adversely affected by ADB-assisted projects can voice and seek solutions to their problems and report alleged noncompliance of ADB's operational policies and procedures.

In preparing any country program or strategy, financing any project, or by making any designation of, or reference to, a particular territory or geographic area in this document, the Asian Development Bank does not intend to make any judgments as to the legal or other status of any territory or area.


Safeguard Documents See also: Safeguards
Safeguard documents provided at the time of project/facility approval may also be found in the list of linked documents provided with the Report and Recommendation of the President.

None currently available.


Evaluation Documents See also: Independent Evaluation

None currently available.


Related Publications

None currently available.


The Access to Information Policy (AIP) establishes the disclosure requirements for documents and information ADB produces or requires to be produced in its operations to facilitate stakeholder participation in ADB's decision-making. For more information, refer to the Safeguard Policy Statement, Operations Manual F1, and Operations Manual L3.

Requests for information may also be directed to the InfoUnit.

Tenders

Tender Title Type Status Posting Date Deadline
Green Finance Development Firm - Consulting Closed 12 Aug 2021 02 Sep 2021
Technical Editor Individual - Consulting Closed 25 Jun 2021 01 Jul 2021
International - Insurance Solvency Regulation and Development Consultant Individual - Consulting Closed 29 May 2021 04 Jun 2021
National - Insurance Solvency Regulation and Development Consultant Individual - Consulting Closed 22 May 2021 01 Jun 2021
Green Investment Market Consultant Individual - Consulting Closed 27 Mar 2021 02 Apr 2021
Institutional Development Expert/Deputy Team Leader Individual - Consulting Closed 24 Mar 2021 30 Mar 2021
Green Finance Information Technology Systems Development (Firm) Firm - Consulting Closed 10 Mar 2021 24 Mar 2021
ESG Indexing Consultant (Green Investment, Capital Markets Development) Individual - Consulting Closed 10 Mar 2021 16 Mar 2021
Technical Assistance Management Consultant (International) Individual - Consulting Closed 10 Mar 2021 23 Mar 2021
ESG Rating Model Consultant (Green Investment, Capital Markets Development) Individual - Consulting Closed 10 Mar 2021 16 Mar 2021
ESG Disclosure Consultant Individual - Consulting Closed 09 Mar 2021 15 Mar 2021
Technical Assistance Administrative Consultant Individual - Consulting Closed 19 Feb 2021 04 Mar 2021
Technical Assistance Implementation Consultant (National) Individual - Consulting Closed 19 Feb 2021 04 Mar 2021

Contracts Awarded

Contract Title Approval Number Contract Date Contractor Contractor Address Executing Agency Contract Description Total Contract Amount (US$) Contract Amount Financed by ADB (US$)
Capacity Development Technical Assistance 6687 14 Jun 2021 Beijing Uni Inclusive Technology Limited Company No. 5, Yujing East Road, Tongzhou District, Beijing, China Asian Development Bank 199990

Procurement Plan

None currently available.