China mulls policies to encourage green finance development

Updated 2017-06-16 16:51:51 Xinhua

China is mulling more ways to encourage banks and private capital to invest in green finance projects, a deputy central bank governor said Friday.

Developing green finance is a global trend and a necessary choice for China's sustainable growth as well as a major move to honor the country's commitment to the Paris Agreement, according to Chen Yulu, deputy governor of the People's Bank of China (PBOC).

Development of green finance is gaining steam in China, but still in the early stages, Chen said.

The State Council, China's Cabinet, Wednesday announced its decision to set up pilot zones in Guangdong, Guizhou, Jiangxi and Zhejiang provinces and Xinjiang Uygur Autonomous Region to boost green finance development.

The central bank will roll out more incentive policies in pilot regions, such as including a green credit review in the Macro Prudential Assessment for deposit financial institutions and promoting sustainable business practices among private investors.

The PBOC will also develop more green finance products, expand financing channels, roll out industrial standards and set up green credit mechanism, according to Chen.

The cost of green projects will be gradually reduced and profit increased thanks to rising awareness and an improving green finance mechanism, Chen added.

Also in the News

Nicole Kidman Recalls Oscar Glory: Loneliest Time
Showbiz2016/06/16 13:58December 17 2017 14:07:20

Nicole Kidman Recalls Oscar Glory: Loneliest Time

Attending Shanghai International Film Festival, Nicole Kidman talks about her role in "Grace of Monaco".

Labor Day Travel Peak Starts
Also in the News2014/05/01 12:16December 17 2017 14:07:20

Labor Day Travel Peak Starts

Johnny Depp Delivers a Speech 'Evolve the Future' in 'Transcendence'
Also in the News2014/04/18 13:18December 17 2017 14:07:20

Johnny Depp Delivers a Speech 'Evolve the Future' in 'Transcendence'

Hollywood star Johnny Depp's speech in the upcoming new film "Transcendence" has been disclosed on Friday, April 11th.

Most Watched

News:
China World Business Sports Showbiz Audio
Video:
C4 My Chinese Life The Sound Stage China Revealed Showbiz Video Travel Video
Photos:
China World Fun Travel Entertainment Sports
Travel:
Beijing Shanghai Guangzhou
Lifestyle:
Live Music Opera & Classical Movies Traditional Shows Exhibitions
Learn Chinese:
Chinese Studio Living Chinese Everyday Chinese Just For Fun Chinese Culture Buzzwords