Wuhan is dedicated to going greener. Photo: VCG

Regulators in Wuhan, capital of Central China's Hubei Province, have launched an environmental credit system to reward local enterprises that make significant efforts in environmental protection and punish those who "discredit" firms that violate relevant rules. 

More than 500 enterprises and units have been included in the new system, according to Wuhan government's report on Friday. The system is designed to encourage local companies to save energy and reduce emissions.

Enterprises, which have an environmental credit rating over 90 points, and have "outstanding performance" in reducing pollution, are entitled to apply for a regulatory assessment. Once approved, they could enjoy a "green channel" when it comes to examination and approval by the government, and can also receive policy support on taxation, government bidding and loans.

Meanwhile, those who received scores lower than 40 points will be on the list of seriously discredited enterprises. They will be listed as a key target for supervision, and will be limited in approval and licensing in areas such as financing, credit granting and government procurement.

The assessment of a credit score is completed annually, and the scores and law-breaking behaviors of those companies who fail to make rectification will be recorded and extended to the next cycle of assessment.