Shanxi issues loans for green industrial development


The balance of loans for green industrial projects in North China's Shanxi province increased 13 percent year-on-year to 236.25 billion yuan ($36.32 billion) by the end of June, according to a press conference held by the Information Office of the Shanxi Provincial Government on July 27. 

Shanxi has allocated more credit resources to eco-friendly industries by giving priority to the rediscounting of eco-friendly project-related bills issued and received by enterprises.

For example, the Taiyuan branch of Industrial Bank Co has given 30 million yuan in bill discounts to TZCO New Energy Equipment Sub-Co for its wind power generation equipment and key parts manufacturing, and the Taiyuan Central Sub-branch of the People's Bank of China also approved rediscounts to support the company. 

In addition, Shanxi has encouraged and guided enterprises and financial institutions to issue bonds targeting green industrial projects. Banks in the province have been preparing to issue 3 billion yuan in financial bonds for the development of green industries. 

Wang Shansong, vice-president of the Taiyuan Central Sub-branch of the People's Bank of China, said that financial institutions will be encouraged to increase green credit investment, peak carbon emissions, and achieve carbon neutrality, and the bank will support green industrial projects involving clean energy, energy conservation, emissions reduction, and ecological restoration.