On Thursday and Friday almost 40 heads of state and government will meet at the invitation of the US president for a virtual climate summit. Xi Jinping is also expected to attend. China is a global leader in the field of green finance, i.e. green investments to restructure the economy. The problem is that in the People’s Republic green bonds may also be used for „clean coal“, „clean oil and gas“. This is hardly compatible with climate targets. However, the authorities are striving for reform.