Guangdong Province issues financial support for promoting green and low-carbon development and advancing the construction of a beautiful Guangdong plan.

The Guangdong Branch of the People's Bank of China recently released a work plan on financial support for green and low-carbon development and the promotion of the construction of a beautiful Guangdong. The plan was jointly developed by the Guangdong Provincial Party Committee's Financial Office, the Development and Reform Commission, the Department of Industry and Information Technology, the Department of Finance, the Department of Ecology and Environment, the Forestry Bureau, the Guangdong Financial Supervision Bureau, and the Guangdong Securities Regulatory Bureau. The work plan proposes the implementation of four special actions. Firstly, the implementation of a special action to expand and improve green financing in key areas, to fully support the ecological construction of beautiful Guangdong, strengthen financial services for green and smart manufacturing, continuously optimize financial services for forestry, and effectively provide financial services for energy supply security and low-carbon transformation, actively supporting Guangdong's carbon peak and carbon neutrality efforts. Secondly, the implementation of a special action to innovate and improve green financial product services, actively promoting innovation in carbon-related financial products, enhancing innovation in green credit products, accelerating the development of green direct financing services, and promoting the high-quality development of green insurance. Thirdly, the implementation of a special action to facilitate and accelerate green financing connections, establishing and improving a directory of green financing projects, conducting regular and effective green industry and finance connections, enhancing the green financial service capabilities of financial institutions, and strengthening green financial risk prevention and control capabilities. Fourthly, the implementation of a special action to optimize and improve the green financial ecological environment, coordinating the development of external ecological systems such as guarantees and financial risk sharing and compensation, and strengthening the construction of credit systems in the green field.