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"Canceling mining rights is not an aim but only a means to an end. The purpose of such policies is to better allocate resources under market mechanisms, allowing more capable parties to explore and exploit coalbed methane," he said. If the coalbed methane blocks are located in restricted areas, such as those protected for environmental or cultural reasons, the mining rights will be deducted or invalidated.

"By establishing such financial services and other facilities in culture, trade and big data, we are aiming to develop the Guangdong-Hong Kong-Macao Greater Bay Area into a world-class bay area and forge a top international city cluster in the Pearl River Delta," said Wen Guohui, mayor of Guangzhou.

"China has launched an ambitious initiative to develop a vibrant green finance sector in a short period, and its efforts are driving change at home and abroad as countries seek innovative means to finance their own efforts in green development and to mitigate climate change," Lehr said.

"China is good at scaling up the innovation that will have global impact. Whenever there's a new technology or a new industry, China is a good place to scale it up," he said.

"Charging, along with a number of other benefits, will be the deciding factor whether new energy vehicles will really happen in China," said Woellenstein.