China’s Banking Regulator Calls for Expansion of Loans to Strategic Emerging Industries, Advanced Manufacturing

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A senior official from the China Banking and Insurance Regulatory Commission (CBIRC) has issued a call for domestic lenders to advance Beijing’s macro-policy objectives by stepping up lending to select sectors.

Zhao Jiangping (赵江平), chair of CBIRC’s national joint-stock bank department, called for China’s joint-stock banks to “maintain steady growth in loans…and expand the extension of loans to strategic emerging industries, advanced manufacturing sectors and independent, controllable industry chains.”

Zhao made the remarks in an essay published on 27 July entitled “Comprehensively Driving the High-quality, Sustainable Growth of Joint-stock Banks” (全面推动股份制银行高质量可持续发展).

The CBIRC official also called for “establishing a tech financing service system, establishing and improving financial inclusion product systems, enriching consumer loan product systems, fully servicing peak carbon and carbon neutrality targets, and implanting green finance into credit extension policies.”

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