In thoroughly implementing the decisions and arrangements of the CPC Central Committee and the State Council on ensuring the supply of thermal coal and electricity for this winter and next spring, CDB has created special loans to support major coal producing areas and key coal producers to increase the supply of thermal coal, helped raise the reserves of thermal coal of key electricity companies in key areas of power supply and heating, and strived to alleviate operational difficulties of coal and electricity companies, with a view to offering sufficient financial services for guaranteeing energy supply for this winter and next spring. As of October, by lending development finance support for smooth operation of key enterprises in a timely manner, CDB has committed special loans of 67.7 billion yuan to 148 projects and issued 21.5 billion yuan. In particular, special loans of 9.3 billion yuan were granted to key electricity companies such as Zhejiang Datang Wushashan Power Generation Co., Ltd. that boasts 400 million kilowatts of installed capacity. It is expected that the funds can be used to purchase 15 million tons of thermal coal.
Fully recognizing the significance of the current work on guaranteeing the supply of thermal coal and electricity, CDB has provided special loans to support advanced coal-fired power generation units, emergency standby power and peak-load regulation power, basic supply guarantee power stored by electricity companies, coal saving and consumption reduction transformation, intelligent transformation of large modern steam coal mines and other projects. CDB has also given necessary liquidity support for coal companies and coal-fired power suppliers. Recently, by coordinating its resources and strengthening coordination and allocation, CDB has guaranteed the scale of special loans, offered differentiated pricing, issued special policies to alleviate the repayment pressure of enterprises, rendered prompt assistance to businesses, and made every effort to ensure people’s livelihood and economic security.
In the process of handling loans, CDB has opened up a green channel to speed up the credit approval process of special loan projects. Under the premise of controlling risks, CDB has appropriately delegated the approval authority for special projects and key customers, and prioritized the tackling of related loans in the stages of project entry, credit review, examination and evaluation, and contract approval. In addition, CDB has strengthened credit management to achieve targeted granting of loans, make sure that funds are earmarked to guarantee the supply of thermal coal and electricity, resolutely withdraw from "zombie enterprises" that have suffered from long-term losses and lost market competitiveness, and curbed the blind development of projects with high pollution and high energy consumption. CDB will forestall risks, strengthen capital supervision, prevent misappropriation or arbitrage of funds, and ensure that good things are done in the right way.
Looking ahead, CDB will thoroughly follow the guiding principles of CPC Central Committee, fully and accurately implement the new development philosophy and policies, as well as strike a balance between development and carbon emission reduction, between overall development and local development, and between short-term development and longer-term development. While offering financial support for guaranteeing the supply of thermal coal and electricity for this winter and next spring, CDB will bolster the transitioning to a low-carbon and eco-friendly energy system and the development of renewable energy, and help accelerate the building of a clean, low-carbon, secure and efficient energy system, in order to make the contribution of development finance to realizing carbon neutrality and peaking carbon dioxide emissions.
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