Financial Times FT.com

China’s green credit move faces obstacles

By Richard McGregor in Beijing

Published: February 13 2008 11:36 | Last updated: February 13 2008 11:36

China’s chief environmental watchdog says local officials are sabotaging a central government edict to restrict loans to heavily polluting industries, despite limited success in withholding credit in some provinces.

Pan Yue, the outspoken deputy head of the State Environmental Protection Agency, said in a statement on the organisation’s website on Tuesday that “the obstacles met by green credit have shown the difficulties in changing current trends and rules.”

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