Finance
Chinese Bank Chiefs Urge Gradual Pullback of Financing to Coal
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China should take a gradual approach pulling back financing to high-emission industries in order to avoid credit risks, state bank chiefs said Saturday.
Financial institutions need to support coal and steel companies to upgrade their technology to reduce emissions, even as they stop financing any further expansion of capacity, said Zhou Xuedong, executive vice president at China Development Bank, at a panel during the International Finance Forum in Beijing.