China’s National Development and Reform Commission (NDRC) has given approval Chinese steelmaker Xinxing Ductile Iron Pipes to issue green bonds worth not more than RMB 2.0 billion ($0.29 billion) to finance several environment-friendly projects, as announced by Xinxing Ductile Iron Pipes. In particular, RMB 1.0 billion ($0.145 billion) will be used to supplement working capital, RMB 703 million ($101.3 million) will be used in the technical renovation of the company’s coke oven, while RMB 297 million ($42.8 million) will be spent on a gas power generation project.