[Abstract] The development of green finance is of key importance to the advancement of green economy and future economic development. Green economic development is in need of an appropriate green financial system. By establishing an integrated green financial system, China could transform its economic development pattern and promote the concept of green and sustainable development strategy. The paper outlines the basic framework of China’s green financial system, consisting system enhancement, market development, financial instruments innovation institution cultivation and industrial regulation improvement; and also proposes an action plan of green financial system construction, which is comprised of three phases namely exploration, transition and maturity. In the near term, focus should be put on macroeconomic policy environment improvement and microeconomic foundation optimization for the construction of a green financial system in China despite of its complexity and vast scale.
[Keyword] Financial development strategy, Green financial system, Policy recommendations
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