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Chinas Central Bank Ordered Lenders To Curb Loans For Energy Intensive Industries
- Jan 24, 2019 -

In the People's Bank (central bank), China's central bank, issued a circular requiring banks to restrain lending Monday, energy-intensive industries, a move echoed the government's energy saving and pollution reduction measures. Banks must strictly review the loan from the energy industries and enterprises in application, notice that only banks can provide loans to the headquarters, to finance the capacity expansion in the energy sector projects fuel. It also prohibits any new loan programs, do not meet government energy policies and regulations.According to notification, banks should conduct a comprehensive review of energy-intensive industries and loans, to the end of June the results of the report to the Central Bank. The State Council, China's cabinet, in early May to urge all government departments to reduce emissions, energy conservation, to meet the country's goal, in the first set of 11 five-year plan (2006-2010), China will reduce its per unit of the domestic GDP energy consumption by 20 percent in 2005 to the end of 2010 level.