It was proposed in the Report to the 20th CPC National Congress to promote clean and low-carbon transition in the fields of industry, construction, transportation, etc. A few days ago, China Development Bank (CDB) formulated and issued the Work Plan of China Development Bank for Supporting Green and Low-carbon Development in the Field of Transport. Under the guidance of Xi Jinping Thought on Socialism with Chinese Characteristics for a New Era and with a view to thoroughly implementing Xi Jinping Thought on Ecological Civilization, CDB proposed in the Plan that CDB should uphold the systemic concept, adhere to green, intensive, innovative and intelligent development, pursue promoting comprehensive green and low-carbon development in all transportation sectors and support carbon emission reduction in the field of transport in an orderly manner by focusing on the implementation of priority projects in stages and in a sustainable way with large, long-term stable financing.
Transport accounts for about 10% of China’s total carbon emissions. Speeding up the formation of green and low-carbon means of transportation, strengthening the construction of green infrastructure and further promoting the clean and low-carbon transition of transportation are one of the priorities for China to achieve the strategic goal of carbon peaking and carbon neutrality. According to the Work Plan, during the 14th Five-Year Plan period, CDB will build a pool for priority projects, innovate financing support models, improve differentiated support policies, step up the efforts to issue green financial bonds around on the theme of carbon peaking and carbon neutrality, keep optimizing the coverage of green credit, and strive to provide high-quality and efficient financial services for green and low-carbon development in the field of transport as a development finance institution (DFI).
In promoting the development of a green and efficient transportation system, CDB will focus on networking, network reinforcing and chain strengthening to help accelerate the construction of a comprehensive national transport network, promote the development of multi-modal transport, and support the increase of the proportion of railways and waterways in the comprehensive transportation system; promote the accelerated development of green logistics, integrate transport resources and improve utilization efficiency; and support the construction of green depots and zero-carbon industrial parks.
In promoting the accelerated construction of green transport infrastructure, CDB will actively contribute to promoting the building of urban public transit facilities, support the incorporation of ecological and environmental protection concepts throughout the planning, design, construction, operation, maintenance and upgrading of transport road networks, hubs and other infrastructure, and support the construction of large-capacity public transport infrastructure such as urban rail transit, as well as the energy-saving transformation of transport infrastructure.
In terms of helping the low-carbon transition of transportation tools and equipment, CDB will actively support relevant departments in promoting the application of new and clean energy such as electricity, hydrogen, natural gas and advanced bio-liquid fuels in the transportation sector, support transportation entities in upgrading new transport tools and equipment, support the adoption of new energy taxis and buses in provincial capitals and regional economic hubs in regions such as Beijing-Tianjin-Hebei region, Guangdong-Hong Kong-Macao Greater Bay Area, the Yangtze River Delta and Chengdu-Chongqing economic circle, and help promote the popularization of new energy-saving and low-carbon transportation tools.
It is said that CDB is a leading bank supporting the development of the transport sector. In 2022, CDB focused on boosting major transportation projects of the “14th Five-Year Plan” and the strategic backbone channel projects of “6 axes, 7 corridors and 8 channels”, stepped up its effort in medium- and long-term credit support, and made good use of development finance tools to support the implementation of the G7611 Xichang-Shangri-La Expressway, the expansion of the Shanghai-Kunming Expressway, the Nanjing-Huai’an Intercity Railway, and the new round of urban rail transit planning projects in Ningbo, Chongqing and Dongguan.
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