BEIJING — China's green bond issuance saw steady growth in 2019, with more diversified issuers in the market, a recent report showed.

The issuance of the country's green bonds rose 33 percent to 386.2 billion yuan (about $54.7 billion) in 2019, according to an annual report on China's green bond market jointly released by the China Central Depository & Clearing Co Ltd and the Climate Bonds Initiative.

Non-financial institutions overtook financial institutions as the biggest issuers, with their issuance surging 54 percent and accounting for 37 percent of last year's total, the report said.

China announced a plan in 2016 to establish a national green finance mechanism, becoming the first country worldwide to make such a move. It also helped push green finance to be included on the G20 agenda.