China rolls out measures to promote green finance

This photo taken on Oct. 19, 2023 shows the People's Bank of China in Beijing, capital of China. [Xinhua/Peng Ziyang]

BEIJING -- China has unveiled a guideline on the development of green finance, outlining 19 important measures for key areas to promote the building of a beautiful China.

Focusing on key areas such as the green development of key industries and ecological protection and restoration, China will work to create a project library for the building of a beautiful China and effectively improve the precision of financial support, according to the guideline jointly issued by four government agencies, including the People's Bank of China and the Ministry of Ecology and Environment.

The guideline stresses enhancing the capacities of financial institutions to provide green financial services and enriching products and services for the area.

Efforts should be made to increase loan issuance and beef up financing support for green development, the document states.

It also calls for stepping up innovation in green financial products for key links and areas such as regional ecological and environmental protection projects, the development of the carbon market and green consumption.

A coordination mechanism across government agencies will be established to ensure implementation of these measures, the guideline says.