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Author: Don Obrien

Bank of China to stop financing new coal mining, power projects overseas from Q4


A Bank of China logo in Beijing, China, October 19, 2020. REUTERS/Tingshu Wang/File Photo

BEIJING, Sept 24 (Reuters) – Bank of China Ltd (601988.SS) on Friday said it would no longer provide financing for new coal mining and coal power projects outside China, as well as in Hong Kong, Macau and Taiwan, from the fourth quarter of this year.

The announcement from the state-run lender, which excludes projects that have already been signed off on, follows President Xi Jinping’s pledge on Tuesday that China would not build any new coal-fired power projects abroad. read more

Reporting by Cheng Leng and Tom Daly; Editing by Alex Richardson

Our Standards: The Thomson Reuters Trust Principles.



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