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Chinese Stimulus Effort Goes Green: WSJ

People’s Bank of China announces new “carbon emission reduction lending facility” to provide low-cost funds for clean power

The first project is undergoing environmental impact assessment and a final investment decision will be made in 2024 or 2025, its Korea chief executive said.
A file photo of a wind farm. The 800 megawatt project, expected to cost several billion dollars and finish commissioning in 2028-29, is wholly owned by Equinor but the company is looking for partners, he said. Photo: Reuters.


Over the past decade or so, Chinese stimulus efforts have tended to feature housing and steel as the main course, with green infrastructure as a side. This time Beijing appears to be eyeing greens for the main, The Wall Street Journal reported.

On November 8, the People’s Bank of China announced a new “carbon emission reduction lending facility”, which would provide low-cost funds for banks to re-lend to clean power, energy efficiency and other similar projects.

Read the full report: The Wall Street Journal



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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.


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