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China's central bank to increase support for green finance, lending totalled USD 1.9 trln

CKN
minutes 2021/04/19 15:33:34
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Apr 19, 2021 (China Knowledge) - Yi Gang, governor of the People's Bank of China (PBoC) has, said the central bank will implement a slew of measures to improve its support for green finance.

The PBoC will support green finance through measures ranging from commercial credit ratings, deposit insurance rates to collaterals for open market operations. It also intends to launch a support toolkit to provide low-cost funds for carbon emission reduction, according to Yi.

Yi also said that the PBoC attaches great importance to green finance and has put in place an initial policy framework for green finance. Yi noted that green finance can be an accelerator in a comprehensive economic transition to meet China’s goal of peaking carbon emissions by 2030 and achieving carbon neutrality by 2060.

Green loans and green bonds in China totalled USD 1.8 trln and USD 125 bln, respectively. Over 40 carbon-neutral bonds have been issued totalling over USD 10 bln.

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