PBOC launches green scheme

Enterprises that have poor environmental records risk being rejected for bank loans under a nationwide credit system that factors environmental information into loan applications.

The People's Bank of China (PBOC), the central bank, is working with the State Environmental Protection Administration (SEPA) to push the initiative, according to Su Ning, the bank's deputy governor.

"This (move) will encourage enterprises to think more about the effect their operations have on the environment," Su said at a press conference yesterday in Beijing.