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China's ICBC to adjust lending to promote more eco-friendly growth
(Xinhua)
Updated: 2010-02-09 00:46
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BEIJING: China's largest bank, Industrial and Commercial Bank of China (ICBC), said Monday it would tailor its lending to promote more environmentally friendly economic growth.
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ICBC will boost lending to emerging strategic industries and the modern services sector, as well as to the recycling and low-carbon industries, according to a statement made at the bank's 2010 work conference.
The Beijing-based lender will also increase financing support for small enterprises and help boost domestic consumption.
The bank also said it would strictly control lending to high-pollution and energy-intensive projects and shut the door on lending to projects and enterprises in violation of national environmental protection standards.
