Chinese financial institutions should boost investments in renewable energy projects and support the transition of high-carbon sectors in countries along the Belt and Road Initiative, a former People’s Bank of China chief economist told a recent forum.

Demand for financing to facilitate the transition of high-carbon industries such as steel, cement, petrochemicals in Belt and Road countries may exceed that for "pure green” projects, said Ma Jun, according to the website of the Green Finance Committee of China Society for Finance and Banking, of which he is chairman.

Ma also pointed to investment opportunities in developing countries’ green transition in agriculture and tourism. (See MNI INTERVIEW: China-US Should Set Green Whitelist - Ma Jun)

Former PBOC governor Zhou Xiaochuan noted the potential for Chinese companies to construct green power systems in other countries, reducing emissions while powering industrialisation.