On July 14, the People's Bank of China issued the Notice of the People's Bank of China Financial Supervision Administration and the CSRC on Printing and Distributing the Catalogue of Green Financial Support Projects (2025 Edition). According to the notice, in order to strengthen the liquidity of the green finance market, improve the efficiency of green finance asset management, and reduce identification costs, the "Catalogue of Green Finance Support Projects (2025 Edition)" is uniformly applicable to all types of green finance products. Listing and stock issuance on the Shanghai, Shenzhen, and North stock exchanges, as well as listing and stock issuance on the New Third Board, are temporarily not applicable. The notice specifies that all relevant units should use the "Catalogue of Green Finance Support Projects (2025 Edition)" as the basis, combined with their respective green development goals and tasks and the construction of green finance systems, to study, formulate and implement relevant supporting policies, strengthen publicity and guidance, and give full play to the supporting role of various green finance tools in environmental improvement, climate change response, and resource conservation and efficient utilization, promoting sustainable economic and social development and green low-carbon transformation. The notice requires that the "Catalogue of Green Finance Support Projects (2025 Edition)" be well connected with the historical standards of products such as green loans and green bonds. Loans that have been approved but not yet disbursed before the release of the "Catalogue of Green Finance Support Projects (2025 Edition)", bonds that are still in existence or have been approved and completed registration procedures, will still be subject to historical standards for product recognition and fund allocation. For bonds that have already submitted application materials but have not been approved or completed registration procedures when the "Catalogue of Green Finance Support Projects (2025 Edition)" is released, the issuing entity can choose to apply historical standards or the "Catalogue of Green Finance Support Projects (2025 Edition)" for green project recognition. For the above-mentioned bonds, the issuer is encouraged to disclose information and other related work in accordance with the "Catalogue of Green Finance Support Projects (2025 Edition)". The notice mentioned that the People's Bank of China, the State Administration of Financial Supervision, and the China Securities Regulatory Commission, together with relevant units, will timely adjust and revise the Catalogue of Green Finance Support Projects (2025 Edition) according to the major tasks of national ecological civilization construction, major decision-making and deployment of carbon peaking and carbon neutralization, the key work of ecological environment protection and pollution prevention, the update of technical standards, the progress of international cooperation in green finance, and the needs of domestic green finance market development. According to the notice, the "Catalogue of Green Finance Support Projects (2025 Edition)" will come into effect on October 1, 2025. (New Society)