PBOC to provide low-cost funding to banks for carbon-reduction loans

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China's central bank launched a new monetary policy tool to support carbon emission reduction projects through low-cost lending to financial institutions, according to an announcement on Monday.

The new tool aims to leverage more social capital to promote the low-carbon transition of key industries and support the development of clean energy, energy saving, environmental protection and carbon emission reduction technologies, according to an announcement released by the People's Bank of China . . .

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