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China to Promote Green Finance and Carbon Monetary Tools: Xinhua

CHINA PRESS
MNI (Singapore)

China will promote the development of green financial products, set up monetary policy tools for carbon emission reduction, expand green bonds and guide banks to provide long-term, low-cost funds for green projects, Xinhua News Agency reported citing the government's detailed plan to peak carbon emission by 2030 and achieve carbon neutrality by 2060. China will strictly control new projects with high-energy consumption and carbon emssion such as steel, cement, flat glass and electrolytic aluminum, as well as introducing production control on coal power, petrochemical, and coal chemical industries, Xinhua said.

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