Green finance pilot to be extended

China is preparing a nationwide green finance development trial model and extending a one-year pilot program in five provinces, to encourage faster and cheaper loans for environment-friendly industries, according to a senior central bank official.

The People's Bank of China, the central bank, is drafting an assessment system to evaluate banking depository financial institutions' performance of issuing "green loans", and "the pilot plan will be released soon", Chen Yulu, PBOC vice-governor, said at a two-day meeting that ended on Wednesday in Huzhou, Zhejiang province.

The country launched a green finance reform and innovation pilot program in five provinces in June last year, including Zhejiang, Guangdong and Guizhou. "The pilot program has achieved successful results, and some of the mature experiences can be extended to the whole country," the vice-governor said.