Others News
- Banks told to cut lending to heavy polluters
Date: 9-Jul-2007 Sources: (Shenzhen Daily)
IN the latest government initiative to improve China's grim environmental record, the central bank Friday instructed banks to stop lending to projects that cause heavy pollution and waste energy.
The People's Bank of China urged banks to realize the 'importance and urgency?of using financial services to promote green development.
In a statement on its Web site, it instructed banks to call in existing loans, and to extend no new credit, to projects deemed undesirable by the government; it also told banks to lend less to sectors where there is overcapacity.
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