The People's Bank of China expands support tools for carbon emission reduction, promotes comprehensive green transformation of economic and social development.

On January 15th, the People's Bank of China issued a document stating that in order to promote comprehensive green transformation for economic and social development, and to further advance the work of green finance, the People's Bank of China has decided to include projects such as energy-saving renovations, green upgrades, and energy green low-carbon transformations that have direct carbon reduction effects in the field supported by carbon reduction tools. The carbon reduction support tools will be operated on a quarterly basis, providing one-year re-lending funds each time, with a total annual operation amount not exceeding 800 billion yuan. The People's Bank of China will determine the quarterly operation amount based on the needs of monetary policy regulation, and provide re-lending funds support in accordance with policy regulations depending on the loans issued by financial institutions to the supported area and the demand for re-lending funds. This article is excerpted from the People's Bank of China, GMTEight Editor: Chen Wenfang.