In 2024, green finance in China saw significant progress across several areas. Early in the year, the CPC Central Committee and the State Council issued the Opinions on Comprehensively Promoting the Construction of a Beautiful China,1 laying out key strategies for achieving a green, low-carbon economy across all sectors. In particular, it advocates the robust development of green financial systems, including green bond issuance, expansion of the national carbon market, climate finance innovation, and ESG information disclosure. It also supports creating standards and certifications for green products and a "carbon inclusive" mechanism for public participation. In response to this high-level directive, four ministries (PBOC, MEE, NFRA and CSRC) jointly released Guiding Opinions on Doing a Good Job in the Five Major Financial Sectors in the Banking and Insurance Sectors2 in May 2024, underscoring the role of green finance in resource allocation, risk management and market pricing in support of building a “Beautiful China". With continuous support through a favourable policy environment, China’s green finance ecosystem evolved through strategic policy interventions, innovative financial products, and enhanced regulatory frameworks in 2024. Notable developments include the finalisation of the Green and Low-Carbon Transition Industry Guidance Catalogue, advancements in green insurance and taxonomy, the establishment of more robust and unified disclosure requirements for corporations, the re-launch of the China Carbon Emission Reduction (CCER) market, and the introduction of national carbon footprint management standards. The growth of green finance instruments has been mixed in 2024: Green loans maintained strong growth, while green bond issuances continued to decline; transition-related bonds and green insurance grew significantly compared with 2023, but were still small in scale; green funds had a strong rebound from 2023. Building on the previous reports for 2022-233 and 2023-24,4 this brief analyses China’s green finance policies in 2024, identifies key trends and recommends actions to scale green finance further. It is written as a snapshot of key developments and uses specific examples to understand China’s green finance trends and directions. It is by no means a complete guide to Chinese green finance and its developments.