[Ferro-Alloys.com] Baogang Group, the largest iron and steel manufacturer in the Inner Mongolia autonomous region, issued a green bond focusing on carbon neutral projects on the Shanghai Stock Exchange recently, the first of its kind in the region's steel industry.

The issuing value of the bond is 500 million yuan ($76.5 million) with a term of five years. More than 70 percent of the money raised will be used for projects to reduce carbon emissions.

The project is mainly intended to convert recycled blast furnace gases into electricity, which can cut emissions and save energy. It is expected to reduce coal consumption by 131,900 metric tons and reduce carbon dioxide emission by 88,400 tons annually.

The State Council, China's Cabinet, held a conference on financial stability on Thursday, urging governments of various levels to improve the continuity, stability and sustainability of financial policies to promote the steady and healthy operation of the economy.

That urging came at the right time as data released by the National Bureau of Statistics on Friday indicates the producer price index surged 4.4 percent year-on-year in March, up 1.6 percent from the previous month. The rising prices in the market do not originate from robust demand, but the price hikes of staple commodities, raw materials and accessories. For instance, the purchase price of ferrous materials rose 15.6 percent in March.

Click here for more information: Ferrosilicon Daily Express 4.19

• [Editor:kangmingfei]