Chongqing municipality in Southwest China recently received approval to construct a green finance reform and innovation pilot zone.

The master plan for Chongqing's construction of the green finance reform and innovation pilot zone was released on Aug 25, synergizing economic profits with environmental gains during the reform. According to the document, Liangjiang New Area will be a main venue for carrying out the reform.

Qin Shubin, deputy director of Liangjiang's administrative committee, said that the new area will seize the momentum and mainly pioneer green finance reforms and climate financing and investment by supporting low-carbon city construction and completing the green finance institution mechanism, product system, service system, market system, opening-up system and ecological system.

By the end of June this year, the new area had registered a 152-billion-yuan ($22.12 billion) green loan balance, accounting for one third of the municipality's total and ranking first in Chongqing.

Statistics show that Liangjiang has established two sustainable industrial parks, 21 green workshops, two eco-friendly supply chain management demonstration enterprises, seven green data centers and 16 green design products.