New solar panels have been set up at villagers' homes in Qingshan district. [Photo/Baotou news network]

From aiding in poverty alleviation to helping small and micro enterprises, from serving entities to promoting green transformation, Baotou's financial industry has shown strong resilience in recent years.

In 2013, Baotou's financial industry focused on poverty alleviation. Eight years later, absolute poverty and regional poverty were eliminated in the city.

Since the State Council issued the "Notice on the Action Plan for Carbon Peaking to 2030" in 2021, Baotou's financial industry has invested funds in green and low-carbon fields. As a city with heavy industry, Baotou has promoted the rapid transformation and upgrading of local industrial enterprises to reduce carbon emissions and has become a leader in the development of green finance.

The Baotou Branch of Industrial Bank issued green corporate bonds of Baogang Group to help build the world's first 100,000-metric-ton carbonized steel slag industrial utilization project to achieve zero carbon emissions in the production process. The financial industry also provided support for the construction of projects such as renewable energy replacement, thermal power flexibility transformation, and wind-solar-hydrogen integration in Baotou's industrial parks, helping Qingshan district to be included in the national photovoltaic promotion list.

In addition, since 2022, banks in Baotou have provided nearly 10 billion yuan ($1.48 billion) in green credit support to local enterprises.

The successful exploration and practice of green finance in Baotou has further strengthened its confidence in accelerating green and low-carbon development. Moving forward, Baotou will leverage its financial industry to further promote the green and low-carbon transformation of the local economy and society and move towards high-quality development.