Flocks of swans are swimming and foraging in the old course of the Yellow River in Dongying, East China's Shandong province. [Photo/IC]

Shandong will give full play to the driving function of financial services to promote ecological protection and high-quality development in the Yellow River Basin.

Fourteen government departments in the province recently jointly formulated the Guiding Opinions on Financial Support for Ecological Protection and High-quality Development of the Yellow River Basin in Shandong, in a bid to better protect the ecological environment of the Yellow River.

According to the document, Shandong will increase financial supply and expand total financing, give full play to monetary policy tools, innovate financial products and services, strengthen the cooperation between financial institutions and the government, expand the use of insurance funds, and strive to make the loan growth rate in the Yellow River Basin no lower than that in Shandong province.

It will establish and improve a database of key projects for ecological protection and high-quality development in the Yellow River Basin, carry out financial guidance and management services, and give full play to the role of financial technologies.

The province will guide financial institutions to expand ecological construction credit enhancement and specialty insurance products to support building a green ecological corridor along the Yellow River.

Through the development of supply chain financing and other means, Shandong will support the development of key industrial clusters and industrial chains in the Yellow River region, and encourage financial innovation based on the characteristics and advantages of regional development.

It will make comprehensive use of credit, insurance and other service models to promote the internal and external connectivity of business circulation, capital, human resources and technology.