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14 Tsinghua China L. Rev. 195 (2021-2022)
China's Regulatory Pathway to Green Finance

handle is hein.journals/tsinghua14 and id is 223 raw text is: CHINA'S REGULATORY PATHWAY TO GREEN FINANCE* Wenting Cheng** Peter Drahos*** Table of Contents I.INTRODUCTION ............................................................................................196 II.THE PRESSURE DRIVING MECHANISM IN GREEN FINANCE ......................201 A. Pressure Formation and Priority Promotion ...............................203 B. Task Disaggregation ...................................................................207 1. Task Disaggregation Among Central Financial Regulators.207 2. Pressure Transmission to Local Governments .....................208 3. Performance Evaluation........................................................209 III.EXPERIMENTAL GOVERNANCE: LEARNING, ADJUSTMENT, AND PRESSURE REINFORCEMENT ................................................................................212 A. Central Government Levers and The GFPZs .............................213 B. GFPZ As Pixels for Green Finance Information........................215 C. Lateral Pressures and GFPZ Innovation.....................................216 I.CONCLUSIONS...........................................................................................217 * This article is an output of the ANU Grand Challenge - Zem-Carbon Energy for the Asia Pacific and is supported by the ANU China in the World 2020 Research Funding. We thank Julie Ayling for her comments on an early version of this paper. We thank ANU Centre for Eumpean Studies for hosting Pmfessor Peter Drahos as Visiting Fellow to accomplish this work. ** Wenting Cheng, College of Law, the Australian National University, ACT, Australia. ORCID: 0000-0002- 7986-3946. Email: wenting.cheng@anu.edu.au. Wenting Cheng is a Grand Challenge Research Fellow in the College of Law, Australian National University (ANU). She works at the ANU Grand Challenge Poject Zem-Carbon Energy for the Asia Pacific. Wenting holds Ph.D. in Regulation and Governance firm the ANU and M.Phil in Law frm Peking University. *** Peter Drahos, Department of Law, Eumpean University Institute, Florence, Italy. Visiting fellow, ANU Centre for Eumpean Studies. ORCID: 0000-0003-3243-6928. Peter Drahos is a Pirfessor of Law and Governance in the Department of Law, Eumpean University Institute, Florence, Italy. He holds a Chair in Intellectual Property at Queen Mary University of London, and is an Emeritus Pirfessor at the School of Regulation and Global Governance (RegNet), the Australian National University. 195

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