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BEIJING (MNI)

The People's Bank of China will encourage commercial banks to increase financial support for the country's drive to cut carbon emissions and request them to ensure consistency in real-estate lending by adjusting their credit structure, according to a statement published on the bank's website on Thursday.

China recently tightened loans for home buyers and developers in a bid to prevent asset bubbles. Beijing has also made the cutting of emissions a national priority for this year.

The statement said the PBOC will also boost loans to manufacturing and provide further support for technological innovation.

MNI Singapore Bureau | +65 9 632 1991 | sumathi.vaidyanathan.ext@marketnews.com
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MNI Singapore Bureau | +65 9 632 1991 | sumathi.vaidyanathan.ext@marketnews.com
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