Recently, CIB officially signed a strategic cooperation agreement with the All-China Federation of Industry and Commerce (hereinafter referred to as “ACFIC”). Guided by the principle of “financial services supporting the real economy and fostering the growth of private enterprises,” the two parties will jointly promote financial services for the real economy and facilitate the development of private enterprises. Meanwhile, CIB has been officially included as a member of the “National Alliance for Green and Low-Carbon Development of Private Enterprises,” becoming one of the five commercial banks in the alliance and shouldering the responsibility of providing core financial support for the green transformation of private enterprises.
The National Alliance for Green and Low-Carbon Development of Private Enterprises (hereinafter referred to as the “Alliance”) is a national, open, and non-profit organization initiated by ACFIC in July 2023. By establishing self-discipline norms and leveraging the exemplary role of leading enterprises, the Alliance aims to disseminate green development concepts, interpret and promote “dual-carbon” policies, facilitate the exchange, sharing, and collaboration of advanced technologies and experiences, guide more enterprises to enhance their awareness of green and low-carbon development and accelerate their transformation, and create a favorable environment for the high-quality development of China’s economy.
“CIB will leverage its strengths in green finance and rely on the Alliance platform to further address the pain points and challenges in the green development of private enterprises, continuously innovate products and service models, increase resource allocation, and serve as the most reliable and professional financial partner for private enterprises on their green transformation journey, contributing greater strength to painting a new vision for a Beautiful China,” said an executive from CIB.
CIB is a leader in green finance in China. In recent years, CIB has actively implemented the decisions and deployments of the Party Central Committee, such as the dual carbon goals and the construction of a beautiful China, and deepened its layout in the field of carbon reduction and pollution reduction in accordance with local conditions, supporting the growth of emerging sectors and the green transformation of traditional industries. As of the end of the first quarter, China’s Industrial Bank (CIB) reported a total green finance financing scale of RMB 2,318.1 billion, and a green loan balance exceeding RMB 1 trillion under the People’s Bank of China (PBOC) standards, reaching RMB 1,017.5 billion. The projects supported by these loans delivered strong economic, environmental, and social benefits, further solidifying the bank’s reputation as a “green bank.”