Green Finance Makes Debut in Ningxia by Officially Opening the First Industrial Bank Branch in Yinchuan
On June 19, Industrial Bank (IB) Ningxia Branch, the 44th level-one IB branch and the fifth level-one branch of IB in the Northwestern China, was officially opened, representing another expansion of IB’s presence in the Northwestern China to closely serve the economic growth here.
On the date of opening, a strategic cooperation agreement was signed by IB, the Environmental Protection Bureau of Ningxia Hui Autonomous Region and the Ningxia Zhongning Qingyin Rural Bank, which is to exert the leading advantages of IB in comprehensive financial strength, especially in green finance, to support the growth of environmental-protection industry and tourism in Ningxia and promote the construction of beautiful Ningxia.
IB also promised to donate RMB 2 million to the ecological relocation village poverty alleviation project of the “Twelfth Five Year Plan” in Lujiayao, Hongsibao District, Ningxia as well as the Ningxia Shizuishan Special Education School, to support the poverty alleviation and special education undertakings of Ningxia.
Green finance enters into Ningxia
As indicated in the 12th CPC Congress of Party Representatives in Ningxia Hui Autonomous Region that was just closed, it is required to accelerate the growth of financial industry in Ningxia, implement the plan of “attracting funds into Ningxia”, cultivate a multi-layered capital market, and actually solve the problem of difficult and costly fund-raising.
As China’s first equator bank and a national shareholding commercial bank with the largest asset scale in China, the establishment of Yinchuan Branch by IB will add financial vigor for Ningxia’s economic and social development, especially the green development.
According to the strategic cooperation agreement signed by IB and the Environmental Protection Bureau of Ningxia Hui Autonomous Region, both parties will carry out in-depth cooperation to drive the implementation of key environmental protection projects, facilitate the development of emission permit business and probe into the funds of green industry, so as to lead the green transformation of production and lifestyle in Ningxia, keep improving the environment and enhance the ecological civilization level.
In terms of key environmental protection projects, IB will actively provide customized financial service solutions for enterprises to satisfy their diversified financing demands; open up green approval channels for key environmental protection projects and offer specialized financial and business resources, give full support to key harnessing projects such as water pollution control, atmosphere pollution control and soil pollution control, and help with the successful implementation of environmental protection projects.
In terms of emission permit business, IB will act as the preferential cooperative bank of Ningxia in national emission permit business, rely on the municipal or regional emission permit trading platforms, promote proven modes of financing business mortgaged on emission permit, carry our financing business mortgaged on emission permit for key industries and projects, fulfill full-process services involving all related parties; assist the local government to establish the local emission permit trading market, actively develop supporting financial products and services related to emission permit, and provide specialized capital support for the financing business mortgaged on emission permit.
In addition, both parties will jointly probe into the ways of setting up a green industry fund, further give play to the guiding function of governmental specialized environmental protection fund, expand the investment and financial channels of the environmental protection industry with financial power, serve the transformation and upgrade of industrial structure in the whole district and boost green development.
A great force for poverty alleviation
In the opening ceremony, IB Yinchuan Branch also promised to donate RMB 2 million to the ecological relocation village poverty alleviation project of the “Twelfth Five Year Plan” in Lujiayao, Hongsibao District, Ningxia as well as the Ningxia Shizuishan Special Education School, to support the poverty alleviation and special education undertakings of Ningxia.
As said by Dan Wenhua, the president of IB Yinchuan Branch, IB has become a modern financial service group based on banks and covering trust, leasing, fund, consumer finance, futures, asset management, research & consultation and digital finance. By relying on the collective and diversified operation advantages of IB in green finance, interbank finance and pension finance, Yinchuan Branch would enhance the cooperation and communication with other financial institutions in Ningxia, provide enterprises and clients in Ningxia with quality and efficient financial products and services to fully support the growth of local entity economy.
Founded in August 1988 and headquartered in Fuzhou, Fujian Province, IB is one of the first joint-stock commercial banks approved by the State Council and the People's Bank of China. By the end of 2016, IB’s total assets have reached RMB 6.09 trillion, ranking first among all shareholding banks in China; the year-round net profit was RMB 53.850 billion; the total ROA and weighted net ROA were respectively 0.95% and 17.28%, remaining excellent in the industry. According to the 2016 list of "Top 1000 World Banks" released by the British magazine, The Banker, IB was ranked the 33rd place in terms of the total asset, ranked the 32nd place in terms of Tier 1 capital; according to the 2016 Fortune Global 500 companies, IB was ranked 195th, staying stably among top 10 Chinese financial institutions, top 50 global banks and top 500 global enterprises.TOP