Advertorial

Financing innovation underpins green architecture growth

chinadaily.com.cn | Updated: Mar 30, 2021

Huzhou in East China's Zhejiang province has seen robust growth in its green architecture thanks to the rollout of a slew of green financing policies.

Green architecture is an approach to building that minimizes the harmful effects of construction projects on human health and the environment.

The "green" architect or designer attempts to safeguard air, water, and earth quality by choosing eco-friendly building materials, as well as construction practices.

The construction projects that are designated as green architecture are entitled to a number of preferential financing policies, such as loans with a discounted interest rate, according to local regulations.

The administrative approval time for green architecture applications in Huzhou has been shortened to 45 workdays.

In 2020, loans allocated to green architecture in the city amounted to 14.87 billion yuan ($2.29 billion), representing a year-on-year growth of 53.6 percent, official data showed.

In the past two years, a total of 6 million yuan has also been awarded to 46 demonstration green buildings, with a total investment of 20 billion yuan.

In 2020, all new buildings in the city reached green architecture standards, among which nearly 30 percent was rated as two-star level or above, nearly tripling the provincial pre-set target.

In March last year, the city was approved as the only pilot city in China for the coordinated development of green architecture and green finance.