Tianjin Investment News: September 19, 2008Friday, September 19, 2008 1:50
China’s first trading platform for environmental protection and emission reduction unveiled in TEDA
As China’s first comprehensive platform for environmental protection and emission reduction, Tianjin Climate Exchange was recently unveiled in the Financial Street of TEDA. Clean development mechanism and emission trading market are one of the important measures of the TBNA to implement the general plan of pilot comprehensive supportive reform.
Co-established by CNPC Assets Management Co., Ltd., Tianjin Property Rights Exchange, and Chicago Climate Exchange (CCX), Tianjin Climate Exchange has the following goals:
To help enterprises cost-effectively reduce emissions of pollutants, such as sulfur dioxide, chemical oxygen demand, etc.
- To help enterprises achieve maximum energy efficiency at minimum cost
- To help enterprises manage environmental risks and meet increasing disclosure requirements
- To provide enterprises with integrated international emissions market access and experience
- To provide price transparency to all parties
- To provide design excellence and innovative financial products in environmental markets
- To guarantee environmental integrity through standardized procedures
- To build the skills and institutions needed to cost-effectively manage emissions
- To facilitate capacity-building in both government departments and enterprises to improve emissions management
- To establish intellectual leadership for China in emissions management through market-based mechanism
- To help advance environmental policy and objectives established by China
- To supply high quality information, education and related services to interested parties on emissions trading
Tianjin Climate Exchange offers auctions of “registered and issued CER (certified emission reduction)”, “verified emission reduction”, and “other environmental products to come”. Its members comprise emission members, liquidity providers and auction participant members. Sale of verified emission reduction may not only raise funds for companies but change the originally non-profitable pollutant reduction. According to insiders, the establishment of the exchange will be beneficial to China to obtain pricing rights in international emission trading market and helpful to a great number of Chinese enterprises with emission deduction targets.
Environment exchange first appeared in the U.S. As the sulfur dioxide exchange system started in the 1990s in the U.S. and made progress, people began to re-examine the special role of market-based measures in environmental protection. Launched in 2003, CCX is a pioneering global platform for climate exchange and the world’s only active voluntary, legally binding integrated trading system to reduce emissions of all six major greenhouse gases. (Tr. by Chen Yu)
TEDA SIGNS A LETTER OF INTENT FOR COOPERATION WITH TIANJIN AUTOMOTIVE INDUSTRIAL (GROUP) CO., LTD.
Recently TEDA and Tianjin Automotive Industrial (Group) Co., Ltd. signed a letter of intent for cooperation in Investment Service Center of TEDA. The two sides will conduct more close cooperation in the automotive industry and strengthen the automotive industrial clusters of TEDA. Mr. He Shushan, Chairman of the TEDA Administrative Commission (TEDAAC), and Mr. Zhang Shitang, Chairman of Tianjin Automotive Industrial (Group) Co., Ltd. attended the signing ceremony. Mr. Ni Xiangyu, Vice Chairman of the TEDAAC, signed on the letter of intent.
According to the letter of intent, Tianjin Automotive Industrial (Group) Co., Ltd. will set up an automotive and agricultural machinery industrial park in TEDA’s West Zone. Such projects as the strategic eastward relocation and product structure adjustment of Tianjin Tractor Manufacture Co., Ltd., the relocation and upgrading of Meiya Auto Manufacturing Co., Ltd., etc. will be completed in the park, with a total investment of over one billion yuan. (Tr. by Chen Yu)
SERVICE OUTSOURCING TALENT TRAINING & IBM SHARED UNIVERSITY PROGRAM KICKED OFF IN TEDA
Recently, the Service Outsourcing Talent Training & IBM Shared University Program was kicked off in TEDA. Vice Chairman Sun Sheng of TEDA Administrative Commission, General Manager S.M. Sun of BPO for the Greater China Region of IBM, supervisors from Nankai University, Tianjin University, Tianjin University of Science and Technology, Tianjin University of Technology, and Tianjin Polytechnic University, as well as representatives from some service outsourcing enterprises witnessed the launching ceremony together.
Mr. Sun Sheng expressed that TEDA values the training and introduction of talents as a propeller for its modern service industry. The local government has mapped out competitive policies and plans for the supply and training of talents. Also, it has transplanted major training programs from multinationals such as IBM so as to realize the organic combination and common growth between expertise and market home and abroad. So far, it has made the following efforts: Firstly, it has conducted cooperation with the Ministry of Commerce to explore new models of talent training. Secondly, it has set up institutional communication channels and cooperation mechanism between universities, training agencies and enterprises. Thirdly, it guarantees incentive policies for talent introduction and training. Fourthly, it offers fine living environment to the employees of service outsourcing companies. Now the development and opening-up of the Tianjin Binhai New Area is part of the national 11th five-year plan. TEDA will seize this unprecedented opportunity to deepen its own reform and opening-up, upgrade industrial structure, build an eye-catching and unique talent pool, create new cooperation model between industry, universities and training agencies, and get government, enterprises and training agencies involved, intensify support to the training of service outsourcing talents, and extend the industrial chain for the training of service outsourcing talents. While striving to build itself into China’s new economic platform, TEDA would like to open up a new horizon of talent training with its own characteristics and serve as a generator of talents.
During the launching ceremony, all participating parties jointly signed the Declaration of TEDA for the Training of Service Outsourcing Talents and promised to play their due roles and work closely with each other. Aiming at the maximization of social benefits, they will build up bridges between diploma education and vocational training, uplift the career competitiveness of university graduates, facilitate their full employment, and foster an integrated talent training model by the government, universities and enterprises.
This event marked the official commencement of the service outsourcing talent training between TEDA and IBM. At the end of 2007, TEDA Administrative Commission and IBM signed a framework cooperation agreement on the training of service outsourcing talents providing that the two parties shall jointly train 3,000 eligible talents for service outsourcing within three years. According to the agreement, courses carried out in TEDA are divided into mainframe and open platform Java trainings, which are closely related to TEDA’s key supported industries such as the outsourcing of software R&D, financial back-office, medical R&D, finance, administrative management, and human resources and can best ensure trainees can fit the demands of various enterprises. In this way, the long-term talent supply for service outsourcing industry is also guaranteed. (Tr. by Zhang Shanshan)
THE FIRST TEDA-BASED PRIVATE LAW FIRM SET UP
Upon the verification and approval of the Tianjin Municipal Bureau of Justice, Tianjin Jinhe Law Firm was established in TEDA. It is the first private law firm set up in Tianjin since the China’s revised law on lawyers was put into effect from June 1, 2008.
According to the revised law, a private law firm should have its normalized name, fixed domicile and articles of association. Besides, its founder should meet such requirements as having assets of over 100, 000 yuan and over five years of practice and receiving no penalty of cessation of practice, etc. Its founder should undertake unlimited liability for the debt of the law firm. Any lawyer who has received a penalty of cessation of practice is not allowed to set up a private law firm.
Private law firms are common in other countries. China’s revised law on lawyers has adjusted and improved the organization of a law firm. The law allows individual lawyers to launch law firms and stipulates that in the country there are such two kinds of partnerships as general partnership and special partnership (namely limited partnership) and such two kinds of law firms as individual and partnership law firms. With this law, China basically follows international practices in this regard.
The permission for individuals to run law firms offers more choices to lawyers. More diversified law firms not only meet different demands but facilitate the cultivation of elite lawyers.
So far TEDA boasts 19 law firms and over 100 practicing lawyers. They have become an important force to develop TEDA’s legal system and safeguard its stability. (Tr. by Chen Yu)
MAIN PART OF THE TEDA SPORTS PARK COMPLETED
According to the related department in TEDA, the TEDA Sports Park will finish its construction soon. The external decoration of three gyms for table tennis, tennis, and swimming have basically been completed and will be put to use before the end of this year.
As the site shows, the layout of the Park is shaped like a fan. With streamlined gray glass curtain walls, the buildings in the Park look simple and dignified. The internal decoration has been completed, and 70% of supportive facilities have been installed in the three gyms.
It is learnt that after its completion, the Park will have the largest group of the best facilitated gyms in the TBNA. (Tr. by Chen Yu)
Seminar on Project Financing and Non-recourse Real Estate Financing Opened in TEDA
Recently the Seminar on Project Financing and Non-recourse Real Estate Financing which was co-hosted by the Foreign Affairs Bureau of TEDA and the Tianjin branch of Mizuho Corporate Bank (China) Ltd. was held in the TEDA Archives.
During the seminar, representatives of Mizuho Corporate Bank (China) Ltd. and others attendants discussed the concept of global project financing, risk mitigation and case study, the concept of non-recourse real estate financing, case study of typical non-recourse real estate financing, foreign banks’ problems in China in project financing and real estate financing, the influence of such financial projects on regional economy, and the focuses of related policies.
Through in-depth discussions and direct exchanges with foreign banks on the development of financial services, the seminar will further promote the absorption of financial investment in TEDA.(Tr. by Chen Yu)
HE SHUSHAN MEETS SAIF MANAGING PARTNER
Chairman He Shushan of TEDA Administrative Commission recently had an amiable meeting with the senior delegation of Softbank Asia Infrastructure Fund Partners (SAIF Partners), headed by its managing partner Andy Yan, at TEDA Renaissance Hotel.
During the meeting, Chairman He said the investment by SAIF Partners in TEDA testifies to its confidence and recognition of the local investment climate. Over the years, SAIF remains as a major contributor to TEDA’s economy. In the future, it will continue to receive full support from the TEDA government, who is always ready to resolve problems and difficulties for its clients and help them grow faster and stronger.
Registered in TEDA, the SAIF RMB Fund & Management Company is capped at three billion yuan. SAIF, a leader in domestic venture capital investment market and the biggest international fund management agency run independently by Chinese, now manages 2.2 billion US dollars of assets. (Tr. by Zhang Shanshan)