Lending program for clean energy
Print Edition
CHINA will put in place targeted re-lending to support the clean and efficient use of coal amid efforts in green and low-carbon development, a State Council executive meeting chaired by Premier Li Keqiang decided.
“Coal is the energy source that we can truly rely on ourselves for supply. It will remain so for quite a long time to come, and this bears on China’s development,” Li said. “That said, we need to pursue a transformation in the path of development, that is we cannot stay on the path of energy-intensive development.”
On top of the existing financial instruments to support the reduction of carbon emissions, a targeted re-lending program with a quota of 200 billion yuan (US$31.3 billion) will be rolled out in support of clean and efficient use of coal, shape policy steps of a sizable scale and facilitate green and low-carbon development.
The 200-billion yuan targeted re-lending program will provide targeted support for safe, efficient, green and smart coal mining, clean and efficient coal processing, clean and efficient use of coal-fired power, clean industrial combustion and heating, clean residential heating and comprehensive utilization of coal resources, and promote the development and utilization of coalbed methane.
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