The funds raised will be used specifically to finance clean energy and carbon-reduction projects. We are asking some pilot financial institutions to measure the carbon emission and climate risks of their projects. We are making quarterly green credit assessment of our banks, and are planning to extend such assessment to cover more financial institutions beyond the banks. Fifth, we will deepen international cooperation.
This is because the downside risks to growth increase while the upside risks to prices dwindle, as the financial market turmoil has an ever greater impact on the real economy. A forward-looking monetary policy that takes account of medium and long term macroeconomic trends also becomes more difficult at a time like this, as uncertainty mounts concerning economic conditions at home and abroad.