Seven departments: Promote bank support for high carbon industries

Seven departments, including the People's Bank of China, jointly issued the Guiding Opinions on Financial Support for New Industrialization to give play to the role of green finance as a traction and help the green low-carbon circular development of the industry. Accelerate the construction of a financial standard system that supports the green and low-carbon transformation of high carbon industries. 

Strengthen the application of diversified green financial instruments such as green loans and green bonds in the green and low-carbon transformation of the manufacturing industry. Adhere to the principle of "establishing first, then breaking down", and promote banks to support projects and enterprises in high carbon industries that comply with the direction of green and low-carbon technology improvement and capacity replacement policies. Improve the incentive and constraint mechanism for green finance, promote financial institutions to develop financial products that support green manufacturing, increase investment in environmental protection, energy conservation, water conservation, clean production, comprehensive resource utilization, green manufacturing, low-carbon and other fields, and support the green and low-carbon transformation and upgrading of green factories.