China’s central bank reported that the total amount of green loans in local and foreign currencies reached 30.08 trillion yuan (approximately 4.23 trillion U.S. dollars) by the end of 2023, showing a 36.5 per cent increase compared to the previous year.
This growth rate was 26.4 percentage points higher than that of all other types of loans at the end of the previous year. Of the total green loans, 67.3 per cent were used for projects to reduce carbon emissions.
In terms of usage, the balance of green loans for infrastructure upgrades reached 13.09 trillion yuan, marking a 33.2 per cent year-on-year increase, while clean energy loans stood at 7.87 trillion yuan, showing a 38.5 per cent increase.
To achieve high-quality and sustainable growth, China has announced its commitment to reaching the peak of carbon dioxide emissions by 2030 and achieving carbon neutrality by 2060.
