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Notice Unveiled to Guarantee Financing Needs of Coal Enterprises
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Chinese
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Category：Legislative Updates
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Subject：Macro-economy ; Energy and resources
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Keywords：coal power; coal; financing
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Source：Pkulaw
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Publish Date：10-14-2021
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Recently, the China Banking and Insurance Regulatory Commission (CBIRC) issued the Notice on Matters Related to Serving the Normal Production of Coal Power Industry and Orderly Circulation of Commodity Market to Ensure the Smooth Operation of Economy.
First, the Notice stresses guarantee for the reasonable financing needs of production enterprises of coal and coal power, iron and steel, and non-ferrous metal. Banking and insurance institutions should actively support enterprises in key fields to increase electricity and coal supply. Second, stern measures should be adopted to prevent the bank insurance funds from disrupting the normal order of commodity market. Such funds are prohibited to be misappropriated for speculation and other activities that are in violation of laws and regulations. Third, the Notice urges to proactively promote the normalized and sound development of consumer credit services. Banks are required to strengthen and improve their credit management in a tangible manner.
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