Green lending surge is good news for sustainable growth
A growing number of Chinese companies have been benefiting from "green credit", since the China Banking Regulatory Commission in June last year encouraged finance houses to develop more products aimed at improving natural resource efficiency, environmental protection and sustainable development.
The CBRC claims the balance of green lending by 21 major banks hit 6.01 trillion yuan ($944 billion) by the end of 2014, a 15.67 percent rise from the beginning of that year.
It said the projects supported by the loans were expected to reduce annual standard coal consumption by 167 million tons, water use by 934 million tons, carbon dioxide emissions by 400 million tons, sulfur dioxide emissions by 5.88 million tons and nitrogen oxide emissions by 1.6 million tons.
