Hebei gets bulk of funds to improve air quality
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E-mail China Daily, January 9, 2014
These efforts hit the economy, especially the iron and steel industry, a pillar for provincial growth, said Hebei Governor Zhang Qingwei.
Hebei province has adjusted its economic growth forecast for 2014, lowering its GDP growth target to 8 percent from 8.5 percent in 2013. But the province will continue efforts to improve air quality even though it will slow GDP growth for a time, he said.
Hebei will also spur the development of green and new strategic industries to pursue healthy and efficient development.
"We will continue to keep a focus on air pollution control in 2014," said Gao Zhili, head of the province's finance department, adding that 2.53 billion yuan from the provincial government will go to projects to curb air pollution and upgrade the economic structure.
About 100 companies and projects with huge growth potential will be given extra support in financing and policies. In addition, new strategic industries including new energy, new material, electronic information and biological pharmacies will also be the first choice in economic development.
"We will give more preferential policies in granting loans to these companies as well, and hope the government can give some preferential policies to help private companies get loans," said Li Xiukun, president of Hebei branch of China Construction Bank.
Two-thirds of companies in the market are small private ones, which have difficulties providing guarantees required by the banks, making it hard for them to get loans and sufficient funding for further development, he said.
"Many of them, though not involving the preferred industries, have been an important force in keeping the economy stable, thus deserving more attention," he said, adding that the bank has cooperated with the governments of Shijiazhuang and Chengde to help the private companies with new loan guarantees.
