People's Bank of China: As of March, China's green loan balance exceeded 18 trillion yuan

People's Daily Online, Beijing, June 28 (Reporter Luo Zhizhi) According to the official website of the People's Bank of China, recently, the President of the People's Bank of China Yi Gang said in an interview with the media that green financing has grown rapidly. As of March 2022, China's green loan balance has already been More than 18 trillion yuan, rapid growth. The balance of green bonds in China is about 1.3 trillion yuan, ranking among the best in the world.

"As far as monetary policy is concerned, the first and most important responsibilities of the central bank are to maintain prices stable. Nevertheless, some central banks still have policy space to promote green transformation through structural monetary policy." Yi Gang said.

According to Yi Gang, in order to promote green transformation, the People's Bank of China included high -quality green bonds and loans in 2018 into the scope of qualified mortgage in the interim borrowing convenience, and launching carbon emission support tools and supporting coal cleaning and efficient use of special re -loan last year. The interest rates of new monetary policy tools are 1.75%, which supports eligible financial institutions to provide low -cost financing for projects with a significant carbon emission reduction effect.

As of the end of May this year, the People's Bank of China issued more than 21 billion yuan to relevant financial institutions through two tools, driving the reduction of carbon emissions by more than 60 million tons of carbon dioxide, accounting for about 0.6%of China's annual carbon emissions.

In addition, in May last year, the People's Bank of China amended and issued the "Green Financial Evaluation Plan for Banking Financial Institutions" to incorporate financial institutions to issue green loans and green bond business into the central bank's financial institution rating to encourage financial institutions to support green transformation.

Yi Gang emphasized that in short, the central bank can play a role in green transformation and improve the knowledge of the whole society's understanding of the benefits of green transformation.

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