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Official urges green financing efforts

A central bank official said over the weekend that green financing must be improved as the country seeks greener and more sustainable growth. In a speech delivered at a meeting on green financing, Chen Yulu, vice-governor of the central bank, said China's green financing is still at an early stage and it has the potential to be more effective. The investment returns on some green projects are not attractive enough, and some fields still face financing difficulties and high costs, Chen noted, calling for a coordinated role between the government and the market to promote green financing. China should encourage local governments to set up green funds and work together with social capital to bring down financing costs, Chen suggested.

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