Xiong'an Launches Hebei's First Green Cross-Border Debt Pilot Program

Xiong'an New Area has launched Hebei province's first green cross-border debt pilot program, connecting global green capital with local low-carbon initiatives. Hebei Lyuyuan Geothermal Energy Development obtained a 50-million-yuan ($7 million) loan from the Bank of Communications, Macao Branch, with 10 million yuan designated as green debt for geothermal energy projects in Xiong'an.

The overall program, initiated by the State Administration of Foreign Exchange in August across 16 regions, encourages domestic non-financial companies to attract cross-border funds for projects aligning with green finance standards. The green debt offers advantages such as reduced impact on financing quotas and simplified processes for companies. The Xiong'an branch plans to enhance foreign exchange services and facilitate cross-border investment to further support green financial development.