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Nation steps up debt financing in pilot zones

China will support the issuance of debt financing instruments in pilot zones for green finance to facilitate green projects, the central bank said. Non-financial firms in the green finance pilot zones will be encouraged to issue a variety of debt financing instruments including asset-backed securities to raise funds for energy conservation, environmental protection, pollution control and other green projects, the People's Bank of China (PBOC) said in an online statement on Monday. Local governments are encouraged to introduce preferential policies to support the issuance of green debt financing instruments and provide financial incentives for issuers, the PBOC added.