The head of one of China’s big state-owned lenders has called for Chinese banks to take more active measures to drive the growth of green finance and the development of the domestic market for ecological products.
“Financial institutions, and in particular banking sector financial institutions, are by necessity important forces for China achieving its twin carbon targets, and must actively establish green finance operations systems,” said Zhang Qingsong (张青松), president of the Agricultural Bank of China (ABC), during a speech delivered on 29 October at the 2021 Tianfu Financial Forum (2021天府金融论坛).
Zhang outlined a range of key measures in his speech including:
- Improving relevant lending policies for realising the value of ecological products.
- Providing comprehensive financial services for realising the value of ecological products.
- Expediting the development and maturation of the market for ecological products.
- Exploring a greater range of financial support models.