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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


China
Turbines for generating electricity at a wind farm in Guazhou, northwest of Lanzhou, Gansu province. 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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