Home China News Economy ICBC to Adjust Lending to Promote More Eco-Friendly Economic Growth
ICBC to Adjust Lending to Promote More Eco-Friendly Economic Growth PDF Print E-mail

Tuesday, 09 February 2010

(Xinhua) China's largest bank, Industrial and Commercial Bank of China (ICBC), said Monday it would tailor its lending to promote more environmentally friendly economic growth.

Shifting China's economic growth pattern, a key task for the Chinese government, will usher in a development mode that is more energy-efficient, environmental-friendly, and more reliant on domestic consumption.

ICBC will boost lending to emerging strategic industries and the modern services sector, as well as to the recycling and low-carbon industries, according to a statement made at the bank's 2010 work conference.

The Beijing-based lender will also increase financing support for small enterprises and help boost domestic consumption.

The bank also said it would strictly control lending to high-pollution and energy-intensive projects and shut the door on lending to projects and enterprises in violation of national environmental protection standards.

 
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