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China encourages banks to extend more financial support to sectors including steel
BEIJING (Reuters) - China's financial regulator encouraged banks and insurers to enhance medium-to-long-term lending support for technology innovation and equipment upgrades in sectors including steel, nonferrous metals and petrochemicals.
Banks and insurers should focus on the green transition in traditional industry to meet financing needs for the low-carbon transformation of high-energy-consuming and high-emission industries, it added in a statement.
(Reporting by Amy Lv, Qiyi Li and Lewis Jackson; Editing by Kim Coghill)
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