BEIJING, June 21 (Xinhua) -- Industrial Bank plans to provide 20 billion yuan worth of green finance for northwest China’s Qinghai Province in the following five years, said Xue Hefeng, vice president of the bank, at the signing ceremony of strategic agreement between the bank and the People’s Government of Qinghai Province.
Industrial Bank will enhance its support for key projects and enterprises related to environmental protection in the Sanjiangyuan area of Qinghai and the industrial structure optimization of Chaidamu Test Zone of Circular Economy.
According to the agreement, the two sides will join hands to build a green finance system featuring in green loans, green bonds, and green development funds.
In the meantime, Industrial Bank will center around Qinghai’s development program on ecological industry to provide financial support and promote the restructuring and upgrading of traditional industries.
Industrial Bank is one of the pioneers in green finance in China. By the end of March, its green financing balance had reached 4.25 billion yuan. (Edited by Zhang Yuan, zhangyuan11@xinhua.org)
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