BEIJING :China's central bank said on Monday it will provide financial institutions with low-cost loans to help firms cut carbon emissions, supporting the country's long-term carbon neutrality goals.
China, the world's biggest source of climate-warming greenhouse gases, aims to bring emissions to a peak before 2030 and achieve carbon neutrality by 2060. The carbon emission reduction supporting tool from the People's Bank of China will help financial institutions to provide loans to firms on the premise of independent decision-making and risk-taking, it said in a statement.
The bank will provide 60per cent of loan principals made by financial institutions for carbon emission cuts, with a one-year lending rate at 1.75per cent, it said.Interest rates on loans made by banks and other financial institutions will be in line with the benchmark lending rate, or the loan prime rate , it said.Financial institutions will apply for the low-cost funding from the PBOC after the loans for carbon emission reductions are made, the central bank said.
The PBOC will require financial institutions to publicly disclose information on carbon emission reduction loans and carbon emission cuts financed by such loans, it said.
Source: Loan Digest (loandigest.net)
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Singapore Latest News, Singapore Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
ETF's big splash in MSCI's new China index puts pressure on FTSE China A50SHANGHAI : Just months after MSCI introduced its China mega-cap index, the first exchange-traded funds (ETFs) tracking the new index began trading in China on Monday, armed with US$4 billion, matching the money tracking the long-established FTSE China A50.The debut of the four ETFs - two in Shanghai and t
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
China reports 89 new COVID-19 casesBEIJING: China reported 89 new confirmed coronavirus cases for Nov 7 compared with 74 a day earlier, its health authority said on Monday (Nov 8). Of the new infections, 65 were locally transmitted cases, according to a statement by the National Health Commission, compared with 50 a day earlier. M Oh my god! :) Will see some news about it. It is such a big number compare to other country. and we just let them come in disregarding our covid19 measures
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
China Oct exports beat forecasts, offer buffer to slowing domestic economyBEIJING : China's export growth slowed in October but beat forecasts as booming global demand for holiday seasons, an easing power crunch and mitigating supply chain disruptions offset some pressures facing the world's second-largest economy. Imports, however, missed analysts' expectations, likely pointin
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
China October exports beat forecasts, offer buffer to slowing domestic economyBEIJING: China\u0027s export growth slowed in October but beat forecasts, helped by booming global demand ahead of winter holiday seasons, an easing power crunch and an improvement in supply chains that had been badly disrupted by the coronavirus pandemic. However, imports missed analysts\u0027 expectations, likely
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
China vows no mercy for Taiwan independence 'diehards' - The Independent InternationalChina vowed Friday to punish “diehard” Taiwan politicians, saying it would ban several from visiting the mainland, as tensions between Beijing and Taipei spiked to their highest level in years. China claims Taiwan as its territory — to be seized one day, by force if necessary — and has intensified efforts in recent years to …
Source: IndependentSG - 🏆 2. / 72 Read more »
China central bank to tread warily on easing amid stagflation risk - policy sourcesBEIJING : China's central bank will likely move cautiously on loosening monetary policy to bolster the economy, as slowing economic growth and soaring factory inflation fuel concerns over stagflation, policy sources and analysts said.Momentum is faltering in the world's second-largest economy due to fresh
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »