China’s CDB supports green industries with $28b in loans

China Development Bank (CDB) has bolstered financial support for green and low-carbon industries, issuing over 200 billion yuan (approximately 28 billion US dollars) in green loans during the first five months of the year.

This marks the fastest growth rate among all loan types within the bank’s portfolio. Additionally, the bank’s cumulative carbon-reduction loans have surpassed 110 billion yuan.

The bank is actively expanding its green financial products and services, targeting key areas such as energy conservation, pollution and carbon reduction, greening, and disaster prevention.

This effort aims to promote a comprehensive green transformation in economic and social development.

Looking forward, the bank plans to improve the quality and efficiency of its green financial services and increase support for green transformation in critical sectors, including energy, water resources, transportation, and urban-rural construction.

China’s dual carbon goals include peaking carbon emissions before 2030 and achieving carbon neutrality before 2060.