China has introduced a guideline aimed at advancing green finance, detailing 19 key measures to foster the creation of a more sustainable China, as reported by Xinhua News Agency.
The guideline emphasizes vital sectors such as the green transformation of major industries and the conservation and restoration of ecosystems. It also aims to establish a project library dedicated to this vision, enhancing the effectiveness of financial support. This initiative is a collaborative effort from four government bodies, including the People’s Bank of China and the Ministry of Ecology and Environment.
One of the primary goals of the guideline is to strengthen the capabilities of financial institutions in delivering green finance services and to diversify the products available in this sector.
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The document further highlights the necessity of increasing loan disbursement and enhancing financial backing for green initiatives.
Additionally, it advocates for innovation in green financial products, particularly for critical areas such as regional ecological protection projects, carbon market development, and promoting green consumption.
To ensure the successful implementation of these measures, a coordination mechanism among various government agencies will be established, as outlined in the guideline.
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