Green finance has developed in a rapid way in China since seven central government agencies—including People’s Bank of China—issued a guideline to establish a green financial system for China. Looking into energy retrofitting of public buildings in key cities promoted by the Ministry of Housing and Urban-Rural Development, this project explores how to use the green finance system to increase energy efficiency of public buildings. It analyzes the current condition, predicts demands on financing, and identifies barriers. Based on the status quo, it proposes specific plans to use green finance for energy retrofitting in public buildings. such as utilizing green credits, funds, bonds, and other financial tools, establishing a fine portfolio for public building retrofitting projects, and improving information service and disclosure. The recommendations from the research have informed a draft government guideline for such retrofitting projects, as well as other related policy documents and standards.