This　study　investigated　the　dynamic　return　and　volatility　spillovers,　together　with　the　network　connectedness　analysis　between　China＇s　green　bond　and　main　financial　markets.　Based　on　a　multidimensional　DCC-GJRGARCH　model　and　the　spillover　index　method,　we　found　significant　two-way　risk　spillovers　between　the　green　bond　market　and　traditional　bond　markets.　Moreover,　the　green　bond　market　was　subject　to　one-way　risk　spillover　from　the　stock　and　commodities　markets.　Meanwhile,　risk　spillovers　between　the　green　bond　market,　forex　market,　and　monetary　market　were　not　significant.　Finally,　network　connectedness　analysis　provided　specific　information　about　connectivity　and　strength　during　different　subperiods　corresponding　to　financial　events.　The　analysis　indicated　that　under　the　influence　of　emergencies,　China＇s　financial　market　will　enhance　the　risk-spillover　level　by　transforming　the　same　type　of　market＇s　internal　spillover　into　cross-market　spillover.