Shanghai’s green economy set to gather momentum over next 5 years
Print Edition
SHANGHAI will launch pilot projects to develop a green economy over the next five years by working with industrial parks and enlisting 10 banks to provide loans.
The Shanghai Energy Efficiency Center and Shanghai Energy-saving Investigation Center signed an agreement yesterday with five green industrial centers to conduct the pilot projects during the 13th Five-Year (2016-2020) Plan period. To give the projects a boost, 10 banks have been chosen to provide up to 50 billion yuan (US$7.6 billion) in loans to companies involved in energy-saving projects which will then be used as mortgages.
Shanghai Lingang Industry Area, Jinshan Development Park, Shanghai Chemical Industry Park, Jinqiao Export Processing Zone and Shibei High-Tech Park are chosen for the pilot projects.
Bank of Shanghai and the Shanghai branches of Bank of China, Agricultural Bank of China, Industrial and Commercial Bank of China, Shanghai Pudong Development Bank, Industrial Bank, Shanghai Rural Commercial Bank, China Everbright Bank, Bank of Beijing and China Merchants Bank will provide the loans.
Companies involved in industries including solar energy, LED (light-emitting diode), energy-saving, treatment of volatile toxics, water recycling and low-carbon consumption transport will help develop green-energy projects.
By the end of 2015, the number of energy-saving companies in Shanghai has grown to 460, employing 45,000 workers, said a report released yesterday by the Shanghai Energy Conservation Service Association. They generated an output value of 40 billion yuan, up four-folds from that of five years ago.
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