China Policy Bank Boosts Carbon Sink Funds

China Development Bank, one of the country’s primary policy banks, has stepped up its loan issuance to help promote carbon sink capacity in the forestry sector amid the country’s push for green development, Xinhua reported.

Loans worth about 114.1 billion yuan ($18 billion) have been issued over the past five years, promoting key ecological areas such as the national reserve forest construction and forest quality improvements, the bank said.

Read the full report: Xinhua

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George Russell

George Russell is a freelance writer and editor based in Hong Kong who has lived in Asia since 1996. His work has been published in the Financial Times, The Wall Street Journal, Bloomberg, New York Post, Variety, Forbes and the South China Morning Post.