Environmental companies to establish green bank
Updated: 2013-12-09 16:02
By Yang Ziman (chinadaily.com.cn)
|
|||||||||||
Listed environmental companies will establish a private joint-stock bank, China Securities Journal reported on Monday.
The China Environment Chamber of Commerce and Sound Group, a Beijing-based environmental technology development company, announced the development at a forum on Sunday.
The bank will be established by eight to 10 listed environmental companies with 5 billion yuan to 6 billion yuan ($823 million to $988 million) in registered capital, according to the plan.
It aims to realize more than 1 billion yuan in net profit in 2019 with 8 percent in capital adequacy ratio, and non-performing loans at 2.5 percent. It aims to have more than 130 billion yuan in deposits and more than 80 billion yuan in loans.
"Environmental protection companies in public-private partnerships have been experiencing great difficulties in financing," said Wen Yibo, chairman of China Environment Chamber of Commerce.
"The green bank will be able to offer credit products suitable to the needs of environmental companies."
The bank could be either established by the companies themselves, or through negotiation with local governments to purchase a local city commercial bank, Wen added.
Related Stories
'Green bank' helps China reduce carbon emission 2009-12-06 20:55
Japan's green companies thriving in China 2013-10-31 10:55
Investors rush to buy shares in green companies 2013-01-24 11:05
Green companies look to crack North America 2012-03-15 13:54
Top green company sponsors German pavilion at world Expo 2010-05-19 08:00
I know a green company when I see one 2008-02-26 07:14
Today's Top News
Nuclear co-op a new front for China's diplomacy
Chinese VP to attend Mandela's funeral
China's coal output, sales stabilize in Oct
Storm in Brazil kills 8
Chinese voters seek louder voice
China's inflation up 3% in Nov
Trade surplus hit record high in Nov
Japan's secrets law raises fears
Hot Topics
Lunar probe , China growth forecasts, Emission rules get tougher, China seen through 'colored lens', International board,
Editor's Picks
Cities hit hard by smog |
Against a sea of troubles |
David Cameron's China visit |
Beyond 'panda diplomacy' |
The way of kindness |
Attention on future reform agenda |