Yuanfang Industry (Shanghai) and Minsheng Bank jointly launch the first carbon quota pledge letter of credit business to support the development of carbon finance
From：Yuanfang Industry (Shanghai)/Yu Guiying
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Yuanfang Industry (Shanghai) and Minsheng Bank Shanghai Branch have signed a "Carbon Emission Quota Pledge - Domestic Letter of Credit Business" to promote green development with innovative financial products, making it the first of its kind in the Shanghai region. This domestic certificate is issued to Far Eastern Union Chemical Corporation Petrochemical (Yangzhou), which not only effectively utilizes Far Eastern Textile Industry (Shanghai)'s carbon emission quota assets and enhances the company's credit line, but also provides a low interest financing channel for affiliated enterprises.
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