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The Zhongshan Central Branch of the People's Bank of China handled the first batch of carbon emission reduction rediscounts for the Zhongshan Branch of Shanghai Pudong Development Bank and the Zhongshan Branch of China Merchants Bank, with a rediscount amount of 23.7867 million yuan, which is expected to drive an average annual carbon dioxide emission reduction of 8,102.78 tons, marking the official implementation of carbon emission reduction rediscount prorgam in Zhongshan.

The rediscount amount for the Zhongshan Branch of Shanghai Pudong Development Bank totaled 22.0679 million yuan, which will be mainly used to support Mingyang Smart Energy Group, a wind power enterprise, to build its demonstration project in Tongliao City. After completion, the project is estimated to reduce carbon dioxide emissions by 1,665,348.80 tons every year.

The carbon emission reduction rediscount scheme is carried out to provide low-cost funds to eligible financial institutions through rediscounting and encourage them to provide financing support with preferential bills for green and low-carbon enterprises as well as enterprises with significant impacts in key areas of carbon emission reduction.