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PBOC To Create New Products For Green Growth

CHINA PRESS
MNI (Singapore)

The People’s Bank of China will deliver more innovate financial products to reduce carbon emissions and support the green transition of the economy, Governor Yi Gang said on Saturday. The central bank will make efforts to lower the price of green energy and push the growth of green exchanges, which is “hard but meaningful work”, he said. Beijing is setting up a national green exchange serving international investors, he said, noting the PBOC's carbon emissions reduction tool, established in 2021, had provided over CNY300 billion in relending, leveraging loans from commercial banks totalling about CNY501 billion.

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