As a result of the city of Quzhou – in East China's Zhejiang province -- being ranked first in research on the development competitiveness of green finance in the Yangtze River Delta region in December, it  has won top place in the category for two consecutive years.

In addition to that accolade, the average green finance comprehensive rating of the YRD in 2020 was B+, compared with B in 2019 – indicating that cities in the region made considerable progress in green finance last year. In 2020, the main green financial indicators for Quzhou hit a new record, with the financial sector growing at 9.7 percent year-on-year, the fastest growth of industries in the city.

Recently, Quzhou Wuzhou Special Paper Co Ltd issued its first performance announcement after  listing on the stock exchange.

he company expects to achieve a net profit of 330 million yuan ($51.1 million) to 345 million yuan in 2020, up 65.62 percent to 73.15 percent year-on-year," said a senior executive, adding that the rapid growth was inseparable from Quzhou's green finance reform policies.