Use Green Credit to Accelerate the Elimination of Backward Capacity
On February 24, the China Banking Regulatory Commission (CBRC) hosted a press conference and seminar in Beijing for the release of the "Green Credit Guidelines." In his speech, You Yong, Deputy Director of the Energy Conservation Department at the Ministry of Industry and Information Technology (MIIT), stated that during the "12th Five-Year Plan" period, MIIT will cooperate with relevant ministries to use various means, including green credit, to increase the elimination of backward production capacity. At the same time, they will guide high-tech industries to invest in technological upgrades and foster new energy-saving service markets.
You Yong introduced that the Ministry of Industry and Information Technology has mainly focused on three areas of work in promoting energy conservation and emissions reduction among industrial enterprises: first, adjusting backward production capacity in existing stocks; second, advancing increment by strictly controlling access for new projects; and third, enhancing market service mechanisms. He indicated that during the "12th Five-Year Plan" period, MIIT will cooperate with relevant ministries to utilize various means, including green credit, to intensify the elimination of backward production capacity. Simultaneously, they will guide high-tech industries to invest in technological transformations and cultivate new energy-saving service markets.
Since 2009, MIIT has promoted over 100 energy-saving service companies domestically. When recommending these companies, it was explicitly required that they possess financial strength, including the ability to undertake financial responsibilities. Many energy-saving service companies have obtained substantial loans from banking institutions, which have played a crucial role in their development.
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