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China Should Subsidize Risky Areas Amid Green Push: Fmr PBOC Off'l

CHINA PRESS
MNI (Sydney)

China should consider subsidizing industries and provinces exposed to greater financial risks while pursuing carbon peak and neutrality goals, said Xu Zhong, deputy director of the National Association of Financial Market Institutional Investors and a former research head at the PBOC. In the long run, an auction mechanism should be established to facilitate the trading of carbon allowances and auction proceeds can subsidize risky areas to prevent systemic risks, Xu said in a blog post published by the China Finance 40 Forum. Green policy measures should be included in the monetary policy framework, as they may cause price hikes of some commodities and impact the potential growth rate, said Xu.

MNI Sydney Bureau | +61-405-322-399 | lachlan.colquhoun.ext@marketnews.com
MNI Sydney Bureau | +61-405-322-399 | lachlan.colquhoun.ext@marketnews.com

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