Beijing’s Green Loan Balance Leaps 42.9%

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The green loan balance of banks operating in Beijing municipality has surged by more than 40% over the past year.

As of the end of the third quarter the domestic and foreign currency green loan balance of the Beijing area stood at around 1.4 trillion yuan, for growth of 42.9% compared to the same period last year, according to figures released by the Chinese central bank’s statistical department on 3 November.

This growth rate marks an acceleration of one percentage point compared to the end of the last quarter, and is 34.3 percentage points ahead of growth in all lending in Beijing over the first three quarters of 2022.

Green loans in Beijing increased by 312.65 billion yuan in the first three quarters of 2022, a figure 174.1 billion more than the print for the same period last year.

Infrastructure green upgrade loans increased by 23.1%, while clean energy sector loans leaped 98.7% and energy efficiency and environmental protection sector loans grew 41.1%.

Beijing has also seen the issuance of more than 150 billion yuan in green bonds by non-financial enterprises in 2022, putting it first in China.