China to help cultivate green financing sector

Central bank takes pioneering step forward to attract more private capital to environmental industry

China will establish a green financing mechanism to facilitate the economy's transition to sustainable growth, becoming the first country worldwide to make such a move.

The decision aims to encourage more private capital into green sectors and stem investment that might pollute the environment, according to the guidelines released on Wednesday by the People's Bank of China, the nation's central bank, and six other central authorities.