China's energy administration, agricultural bank sign deal to boost clean energy use

BEIJING, Jan. 25 (Xinhua) -- The Agricultural Bank of China (ABC) and the country's energy administration on Monday signed a cooperation deal to boost clean energy use as well as energy transformation in rural areas.

In the 14th Five-Year Plan period (2021-2025), the ABC plans to lend 3 trillion yuan (about 473.19 billion U.S. dollars) to the energy sector, including 1 trillion yuan for the county-level energy sector, the China Securities Journal reported.

China will appropriately control its total energy consumption and cut the energy consumption per unit of gross domestic product by 13.5 percent by 2025 compared with the 2020 level, according to a five-year plan on energy conservation and emission reduction released by the State Council.

China has announced that it will strive to peak carbon dioxide emissions by 2030 and achieve carbon neutrality by 2060.