Banks embrace green growth

Energy conservation, environmental protection sector offers huge potential

Policymakers and bankers are seeing huge market potential for the energy conservation and environmental protection industry, an emerging industry in China. To meet the demands of industrial upgrading for green growth, they emphasized that financial institutions should develop green finance under marketization principles to achieve commercial sustainability.

"Developing green finance is an essential element of China's supply-side structural reform in the financial sector. By offering financial products that conform to the philosophy of innovative, coordinated, green, open and shared development, we will better adapt to the changing economic and social demands and promote high-quality development," said Yang Lijie, deputy director of the administrative committee of Liangjiang New Area in Chongqing, a major city in Southwest China.