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China Should Promote Clean Energy Lending: Daily

MNI (Singapore)

China should boost lending to clean energy, lower the cost for green bond issuance and develop green insurance products, the Economic Daily reported. Outstanding clean-energy loans totaled CNY3.79 trillion by Sept. 30, less than 27% of total green lending, the Daily said. Financial support for green building, clean transportation and renewable energy should be further increased so to promote the green transformation of key industries, the newspaper said citing PBOC Deputy Governor Liu Guiping. Green insurance products urgently need to be developed, and the relatively small scale of green bonds has kept the issuance rates high, the newspaper said.

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