On the eve of the new year, the China Banking Regulatory Commission (CBRC) released the *Guiding Opinions on Credit Granting for Energy Saving and Emission Reduction*, signaling a stronger push toward sustainable finance. The document urges all banking institutions to actively adjust and optimize their credit portfolios, with a particular focus on curbing lending to high-energy-consuming and polluting sectors such as construction materials, petroleum refining, and chemical industries.
The new guidelines emphasize that banks should no longer support new projects falling under the categories of restricted or eliminated industries in the national industrial policy. Additionally, any enterprise that has been identified by energy conservation and emission reduction authorities for significant environmental issues must undergo necessary reforms. If these improvements are not adequately implemented, banks are instructed to stop providing new credit lines and gradually reduce existing exposures.
This move reflects the growing importance of environmental responsibility in China's financial sector, aligning with broader national goals of promoting green development and achieving carbon neutrality. By tightening credit access to polluting industries, the CBRC aims to encourage more sustainable business practices and foster long-term economic resilience.
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