From coal mining to tourism

Southwestern city seeking economic structural adjustment with the help of State-owned lender

As China reduces excessive capacity in the coal mining, steelmaking and power generation sectors, coal-rich Guizhou province in Southwest China is digging further into eco-friendly drivers of economic growth with the help of Agricultural Bank of China Ltd, which is making the same adjustments to its direction of lending.

"We're turning toward green finance by offering loans to support the development of tourism, water infrastructure, livestock breeding and farming. The projects selected by our bank include Chinese herb planting and the expansion of a leading processing plant for cili, a fruit known as the king of vitamin C," said Xiao Yong, president of ABC's subbranch in Panzhou, a county-level city in mountainous Guizhou.