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China to set up 200 billion yuan relending facility to back clean use of coal -Breaking

by Mike Robinson

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© Reuters. FILE PHOTO: A coal-fired heating advanced is seen behind the bottom coated by snow in Harbin, Heilongjiang province, China November 15, 2019. REUTERS/Muyu Xu/File Photograph

BEIJING (Reuters) – China will set up a particular relending facility value 200 billion yuan ($31.35 billion) to help the clear use of coal, state media quoted the cupboard as saying on Wednesday.

It didn’t say what actions can be categorized as a clear use of coal, however the cupboard mentioned the loans would along with a lending software rolled out by the central financial institution this month to help efforts to chop carbon emissions.

China’s central financial institution mentioned on Nov. 8 it will present monetary establishments with low-cost loans to assist corporations lower carbon emissions, supporting the nation’s long-term carbon neutrality targets.

($1 = 6.3792 renminbi)

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