Top Biz News

ICBC to adjust lending to promote eco-friendly economic growth

(Xinhua)
Updated: 2010-02-09 10:15
Large Medium Small

BEIJING: China's largest bank, Industrial and Commercial Bank of China (ICBC), said Monday it would tailor its lending to promote more environmentally friendly economic growth.

Related readings:
ICBC to adjust lending to promote eco-friendly economic growth Big lenders get ready for Huijin boost
ICBC to adjust lending to promote eco-friendly economic growth ICBC extends $16b of new loans in January
ICBC to adjust lending to promote eco-friendly economic growth ICBC may use demand tool to gauge lending pace
ICBC to adjust lending to promote eco-friendly economic growth ICBC says 2009 profit up 15%

Shifting China's economic growth pattern, a key task for the Chinese government, will usher in a development mode that is more energy-efficient, environmental-friendly, and more reliant on domestic consumption.

ICBC will boost lending to emerging strategic industries and the modern services sector, as well as to the recycling and low-carbon industries, according to a statement made at the bank's 2010 work conference.

The Beijing-based lender will also increase financing support for small enterprises and help boost domestic consumption.

The bank also said it would strictly control lending to high-pollution and energy-intensive projects and shut the door on lending to projects and enterprises in violation of national environmental protection standards.
Specials
Columnists
China Daily E-paper