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Green-credit guideline for banks issued [China]

Author: Wang Xiaotian, China Daily, Published on: 25 February 2012

The Chinese government introduced a "green credit" guideline for commercial lenders on Friday to facilitate economic restructuring in a manner that's environmentally friendly and saves energy. The China Banking Regulatory Commission...ordered lenders to cut loans to industries with high-energy consumption and high levels of pollution...and to strengthen financial support for green industries and projects. The CBRC encouraged banks to evaluate, classify and rate the environmental and social risks inherent in their clients' businesses and take the results as a key reference in their ratings and access to credit...Lenders also need to improve management of any overseas projects that they support, to ensure that [they]...comply with local environmental, land, healthcare and security legislation, according to the guideline. [refers to China Development Bank, Shanghai Pudong Development Bank]

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Related companies: China Development Bank Shanghai Pudong Development Bank