Subscribe free to our newsletters via your
. Earth Science News .

Subscribe free to our newsletters via your

China To Make It Harder For Heavy Polluters To Borrow Money

File image courtesy AFP.
by Staff Writers
Beijing (AFP) July 30, 2007
China's environment watchdog said Monday it will make it harder for heavily energy-consuming, highly polluting industries to borrow money from the banks. The State Environmental Protection Administration will regularly hand over lists of violators of environmental rules to the central bank and the China Banking Regulatory Commission, the administration said on its website. Banks must conduct strict investigations into loans to proposed projects based on the information and are forbidden from extending any credit to new projects that have not undergone proper environmental assessments, it said.

A blacklist of 30 companies, including paper makers, copper plants, steel firms, pharmaceutical manufacturers and breweries, has already been submitted to lenders across the country, said Pan Yue, the administration's deputy head.

Increasing the funding costs for heavy industries and even cutting off sources of credit for those companies that seriously violate the laws, have become an urgent matter for curbing their investment momentum, he added.

China has set goals of reducing energy consumption per unit of gross domestic product by 20 percent and cutting emissions of pollutants by 10 percent from levels in 2005 by 2010.

However, the job looks to be an increasingly tough one as high energy-consuming firms grew by 20.1 percent in the first half of the year after emission of air and water pollutants actually rose by two percent in 2006.

Source: Agence France-Presse

Email This Article
Comment On This Article

Related Links
Our Polluted World and Cleaning It Up

Memory Foam Mattress Review
Newsletters :: SpaceDaily :: SpaceWar :: TerraDaily :: Energy Daily
XML Feeds :: Space News :: Earth News :: War News :: Solar Energy News

Giant Magnetocaloric Materials Could Have Large Impact On The Environment
Argonne Il (SPX) Jun 20, 2007
Materials that change temperature in magnetic fields could lead to new refrigeration technologies that reduce the use of greenhouse gases, thanks to new research at the U.S. Department of Energy's Argonne National Laboratory and Ames National Laboratory.

  • More Rains Forecast As England And Wales See Wettest Months Since 1766
  • Floods Leave England Awash As Fires Burn Across Continental Europe
  • More Flooding As England Battles Power Cuts And Water Shortages
  • Japan Quake Reveals Fragility Of Modern Industrial Systems

  • Climate Change Sucks Water From China's Two Longest Rivers
  • Drip, Drip Of Global Warming Spells Change In Northern Russia
  • Climate Change, Energy Security Top APEC Agenda
  • New NASA AIRS Data To Aid Weather And Climate Research

  • ESA Mission Highlighted At Remote Sensing Conference
  • Third Sino-Brazilian EO Satellite To Be Launched By October
  • Ball Aerospace Prepares To Ship WorldView I
  • DigitalGlobe Expands Commercial Imagery Distribution Network In Australia And New Zealand

  • China To Step Up Energy Efficiency Drive
  • Africa Starts To Gear Up For Biofuels
  • EU Might Free Up Land For Biofuel Crops
  • Two Bacteria Better Than One In Cellulose-Fed Fuel Cell

  • Treat HIV Babies Early
  • Revealing The Global Threat Of Bird Flu
  • Reviving The HIV Vaccine Hunt
  • China To Make Cuban Dengue Mosquito Killer

  • Scientists Excited By Indonesian-Caught Coelacanth
  • Discovery Provides Key Evidence Of Life's Beginnings
  • The Society Of Vertebrate Paleontology Speaks Out On The Creation Museum
  • Ice Age Survivors In Iceland

  • China To Make It Harder For Heavy Polluters To Borrow Money
  • Quebec's Famous Lakes Teeming With Blue-Green Algae
  • Study Finds Contaminated Water Reaching Florida's Offshore Keys
  • Smog To Accelerate Global Warming

  • New Clue Into How Diet And Exercise Enhance Longevity
  • New Research Proves Single Origin Of Humans In Africa
  • Energy Efficiency Reason For Evolution Of Upright Walking
  • Evidence Found For Novel Brain Cell Communication

  • The content herein, unless otherwise known to be public domain, are Copyright 1995-2007 - SpaceDaily.AFP and UPI Wire Stories are copyright Agence France-Presse and United Press International. ESA Portal Reports are copyright European Space Agency. All NASA sourced material is public domain. Additional copyrights may apply in whole or part to other bona fide parties. Advertising does not imply endorsement,agreement or approval of any opinions, statements or information provided by SpaceDaily on any Web page published or hosted by SpaceDaily. Privacy Statement