Hang Seng Bank (00011.HK) stated that it has recently arranged its first green and social responsibility loan for the Shi Group, with a total value of 0.1 billion yuan, which has been assessed by the Hong Kong Quality Assurance Agency as meeting the requirements of the Green Loan Principles and the Social Responsibility Loan Principles.

The loan will be used to support the first batch of simple public housing project contracts undertaken by the member affiliated companies of the Shi Group, covering three simple public housing projects in Yuen Long Yau Tong Road, Tuen Mun Area 3A, and Ngau Tau Kok Choi Hing Road. The design and construction will incorporate features of a green residential environment, high energy and water efficiency. After completion, these simple public housing units will achieve a good to excellent level of indoor building (residential) green building assessment, providing over 6,300 units and facilities, which is expected to help alleviate the housing needs in Hong Kong.

Li Sui Yee, Director of Commercial Banking Business at Hang Seng Bank, expressed that the Shi Group is a long-term business partner of Hang Seng, and is delighted to provide them with the first green and social responsibility loan. This further highlights the common philosophy of promoting and co-creating sustainable lifestyles. Guo Haisheng, Chairman and Managing Director of the Shi Group, revealed that modular integrated construction (MiC) technology will be introduced in the simple public housing project to improve project speed, efficiency, and output.