From:ChinaDaily | 2021-06-30 08:03
Structured green deposits, special bonds all the rage as emissions trading nears
The imminent launch of a national carbon emissions trading scheme has prompted banks in China to strengthen innovation of certain financial products related to the theme of carbon neutrality.
Lenders have been doing that since the beginning of this year. For instance, HSBC China launched green deposits for its corporate clients in the Chinese mainland last week.
HSBC China s clients now have an opportunity to fulfill their sustainability goals by investing their surplus cash in environmentally friendly projects in sectors like renewable energy, sustainable waste management, energy efficiency and clean transportation.
Virtual currencies face more oversight By CHEN JIA | CHINA DAILY | Updated: 2021-06-23 07:22 Share [Photo/IC]
China is expected to issue tougher measures to intensify the crackdown on illegal mining and trading of virtual currencies, after the central bank reinforced a ban on related services provided by financial institutions, experts said on Tuesday.
Regulations to prevent speculation on virtual currencies should be implemented before markets are disrupted, they said. Cross-border cooperation on regulation of the currencies may also be needed after sharp sell-offs of the world s major cryptocurrencies in recent days.
The price of Bitcoin, the world s largest virtual currency, dropped to $32,920 at noon on Tuesday, down by nearly 50 percent from its peak in April. It hit a two-week low of $32,350 late on Monday. Ether also plunged by 13 percent to $1,950 before regaining some ground on Tuesday.
Having purchased 18,294 tonnes of carbon credits from Changkou Village and two other locations, a Fujian-based company was credited 5 million yuan by the Industrial Bank Co., Ltd.
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