China has created five pilot zones with the aim of promoting a "green finance" industry that will bankroll the country's war on air pollution, according to a statement issued by the central bank. The zones will be located in Guizhou, Jiangxi, Guangdong, Zhejiang and Zinjiang and will be given incentives to provide funding and credit to environmentally-friendly businesses. China's green finance sector is expected to grow at an annual rate of more than 10% over the next three years, reaching $US1.3tn ($A2.2trn) by 2020, according to
China has created five pilot zones with the aim of promoting a "green finance" industry that will bankroll the country's war on air pollution, according to a statement issued by the central bank. The zones will be located in Guizhou, Jiangxi, Guangdong, Zhejiang and Zinjiang and will be given incentives to provide funding and credit to environmentally-friendly businesses. It has been estimated that China needs as much as CNY4tn ($590bn) to meet its environmental targets, with the government expected to provide 10% to 15% of the funding.