Bonds, innovative products providing support
Apart from offering project loans and working capital loans, commercial banks are stepping up support for green companies and projects that are engaged in energy conservation and environmental protection through bond issuance and innovative financial products.
Industrial Bank Co Ltd, a Fuzhou-based joint-stock commercial lender that is also known as CIB, has underwritten and subscribed bonds totaling 2 billion yuan ($291 million) for Chengdu Xingrong Environment Co Ltd since they started cooperation in 2008.
"We will expand our cooperation to more areas of financial services based on the development needs of the company and the actual situation of its projects," said Gu Bin, president of a subbranch of CIB in the Chengdu Hi-tech Industrial Development Zone.
