China Banks Should Boost Lending to Climate Projects: Daily

Chinese banks should develop more products to extend credit, bonds and funds to carbon-reduction projects and support the country's push for a greener economy, the Securities Daily reported citing Wang Jingwu, a delegate to the National People's Congress and vice chairman of the Industrial and Commercial Bank of China. Carbon financial derivatives should be launched and the development of carbon pledge, carbon repurchase, carbon custody, and other financing businesses should be promoted, the newspaper said citing Bai Hexiang, head of the Guangzhou Branch of the People's Bank of China. China has said it targets carbon dioxide emissions to peak by 2030.