In a landmark move in finance, Bank of China (BOC) assisted China Southern Power Grid to issue 5 billion yuan ($723.38 million) in "Green+" themed bonds in the interbank bond market as its global strategic partner. The themed bonds covered the fields of green, sci-tech innovation, carbon neutrality and for the first time blue bonds, among others. Of these, a 3.5 billion yuan green sci-tech innovation bond, with BOC as lead underwriter, marked the largest single issuance of its kind by China Southern Power Grid.

In addition, Bank of China has been promoting the sustainable development of the Guangdong-Hong Kong-Macao Greater Bay Area (GBA) through blue and green bonds.

In relation to blue bonds — sustainable debt instruments designed to raise funds for projects protecting the ocean and marine ecosystems — BOC was a key player. It underwrote the world's first dual-currency blue bond issued by global business entities in 2020.

BOC helped the first blue bond issuance in the GBA's interbank market in 2022. It supported China International Marine Containers — a leading company in energy equipment — in its construction of offshore wind power installation vessels, thereby promoting the upgrade of the marine equipment industry.

BOC assisted the Guangdong Provincial Government in issuing its first blue bond in 2025, with the raised funds earmarked for key areas such as sustainable water resource protection in the GBA.

In terms of green bonds, BOC has been the sole or lead global coordinator in each issuance of offshore local government bonds since 2021. It assisted governments in Guangdong, Hainan, Shenzhen and other regions to issue offshore RMB green bonds in the Hong Kong and Macao markets. 

What's more, BOC has been major underwriter for several initiatives and channeled green funds into the GBA in recent years — including China's first publicly offered carbon-neutral asset-backed commercial paper by China Southern Power Grid, the first offshore RMB green financial bond in Macao by Zhuhai Rural Commercial Bank, and Guangdong Power Industrial Fuel's first green private placement asset-backed note (quasi-REITs). Other issuances have included the first Panda Bond by a non-financial enterprise, CLP Power China Limited, under a green bond framework across all Chinese markets.

Leveraging its global network and cross-border finance expertise, Bank of China has played a key role in shaping sustainable finance standards in the Guangdong-Hong Kong-Macao region. The bank has advanced bond projects that are in line with international, domestic, China-EU and Hong Kong sustainable finance guidelines, and has helped issuers secure green certification from third-party internationally recognized agencies.

Moving forward, more plans are in the pipeline for BOC to continue to support the development of the green and blue economy in the GBA, further deepen innovation in green financial products and strengthen its global brand "BOC Green+" — striving to become the "preferred bank for green financial services".