China's issuance of its first Renminbi-denominated green sovereign bonds on the London Stock Exchange on Wednesday represents a strategic leap in global sustainable finance and currency internationalization, said a Chinese economist.
According to the Ministry of Finance, it successfully completed the bookbuilding and issuance of six billion yuan (around 825.52 million U.S. dollars) in green sovereign bonds in London on behalf of the central government.
This bond issuance delivers on commitments made during January's China-UK Economic and Financial Dialogue in Beijing.
To support this initiative, the ministry released a framework for sovereign green bonds in February, paving the foundation for the country to issue offshore sovereign green bonds and global capital to invest in its green development.
"The issuance is open to international investors, providing them with clear and standardized investment guidelines. It shows China's open attitude. This is about setting international standards. By issuing a bond that it needs, China is actively engaging in setting an international standard," said Zou Jingxian, an associate professor of the National Academy of Development and Strategy under Renmin University of China.
The move also comes as global demand for green sovereign bonds continues to grow, with such instruments typically enjoying strong investor appetite and favorable interest rates.
"The green transformation is critical for China's economy and also meets the public growing demand for a better quality of life. The funds raised through these bonds will be allocated to specific areas like green innovation, renewable energy. Second, it can boost international confidence in China's economy. We know that confidence is important for one economy. By issuing green sovereign bonds, China can attract more international capital," said Zou.
China issues first RMB green bonds in London, advancing global sustainable finance: expert
A major port in northern Venezuela came under U.S. airstrikes in the early hours of January 3, which caused extensive damage to civilian infrastructure, destroyed critical medical supplies in a warehouse, and severely impacted centuries-old cultural heritage sites, according to local residents.
The La Guaira Port, a vital hub for imports that support daily life in the region, was heavily damaged during the attack.
Large quantities of medical supplies stored at the port were destroyed. A historic cultural building dating back for some 300 years was also badly damaged by the bombardment.
Residents living near the port recalled the terrifying scenes as explosions shook nearby neighborhoods.
Humberto Bolivar, who lives in a community separated from the port by only a main road, said the blast waves shattered his home's windows, while stray shrapnel struck the water tank on his roof. According to reports, three missiles were fired at the port that night.
Bolivar said that beyond material losses, he is most concerned about the psychological impact on his children, who remain too frightened to leave their home days after the attack.
"The United States invaded our country. The children were frightened. This is not good for them, because it leaves some children with psychological trauma. They do not want to go to school or leave the house, because they are afraid that something worse might happen. We truly do not want this to happen to our country," he said.
Apart from civilian facilities, local cultural heritage site was also affected.
The La Guaira state government building, a structure with nearly 300 years of history and once served as the site of Venezuela's first national customs office, was struck by the force of the explosions.
Windows of the building were shattered, and furniture scattered across the floor.
"As people of La Guaira, we feel deep pain. Our cultural heritage has been bombed. We are living in constant anxiety and suffering, and life can no longer be the same as it was before," said a local named Henry Cumares.
The U.S. side has claimed the airstrikes targeted warehouses allegedly used to store narcotics. However, locals refuted such accusation.
"According to what Donald Trump said, they bombed this place using the excuse that the warehouses here were used to store drugs at the port. But based on the video released by our governor, these warehouses that were burned contained medicine for kidney patients and foods. Many people depend on these supplies to survive. I think the bombing is extremely despicable," said a local resident named Alejandro Capriles.
US strike hits Venezuelan port, wrecking medical supplies, heritage building
