China to set up 200 bln yuan relending facility to back clean use of coal
China will establish a special relending facility worth 200 billion yuan ($31.35 billion) to support the clean use of coal, state media quoted the cabinet as saying on Wednesday.
It did not say what activities would be classified as a clean use of coal, but the cabinet said the loans would in addition to a lending tool rolled out by the central bank this month to support efforts to cut carbon emissions.
China’s central bank said on Nov. 8 it would provide financial institutions with low-cost loans to help firms cut carbon emissions, supporting the country’s long-term carbon neutrality goals.
Source: Reuters (Reporting by Kevin Yao and Beijing newsroom; Editing by Edmund Blair)