Caixin
Jun 02, 2022 01:31 PM
FINANCE

China Green Finance Pioneer Sees Loan Slowdown as Economy Stalls

A customer leaves the headquarters of Industrial Bank in Fuzhou, Fujian province. Photo: Bloomberg
A customer leaves the headquarters of Industrial Bank in Fuzhou, Fujian province. Photo: Bloomberg

(Bloomberg) — Demand for green loans in China is poised to slow alongside the rest of the economy after growing three times faster than the overall market in the first quarter, according to the lender that helped pioneer green finance.

Industrial Bank Co., one of the first firms in China to start a green lending business in 2006, sees demand weakening as economic growth and confidence stall. That could put a dent in green loan issuance, which has outpaced overall lending in recent years and was especially strong at the start of 2022.

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