China launches pilot program for green foreign debt financing

China has launched a pilot program for green foreign debt financing in a bid to attract the inflow of global capital into the country's green sector.

Piloted in 16 provincial-level regions and cities, including Shanghai, Beijing, Hebei and Qingdao, non-financial enterprises are encouraged to use cross-border financing funds for qualified green and low-carbon transition projects, the State Administration of Foreign Exchange (SAFE) announced Thursday.

Supportive policies will be implemented in the pilot areas to expand the upper limit on cross-border financing scale for enterprises investing in green and low-carbon transition projects, and to facilitate green foreign debt services, according to the SAFE.

Going forward, the SAFE said it will ensure both openness and security, and further facilitate cross-border financing to support the high-quality development of the real economy.

(Xinhua)