China pulls bank loans to 12 major polluters

Twelve polluting enterprises have had crucial bank loans recalled, suspended or rejected as part of China's new "green credit" policy, China Youth Daily reported on Friday.

One case involved a brewery in east China’s Anhui province, whose application for a 10 million yuan (US$1.35 million) bank loan was rejected due to continued violations in waste-water discharge.

In another case, a power company had its bank loans recalled after it failed to pass an environmental assessment, reports said.

"The purpose of this move is to force enterprises to pay the price for environmental violations," the newspaper quoted an offical from China’s State Environmental Protection Administation as saying.

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