PBoC issued a green finance assessment plan for banking financial institutions on June 9, as reported by Shanghai Securities News on the same day. The plan refers to a comprehensive assessment of banking institutions’ green finance businesses, based on which PBoC will implement incentives or...
Apple [AAPL:US] is in early-stage talks with two Chinese electric vehicle (EV) battery manufacturers, Contemporary Amperex Technology (CATL) [300750:CH] and BYD [1211:HK], about battery supply for its future Apple Car, according to Reuters on June 8, citing people familiar with the matter. It remained unclear whether...
China Energy Investment Corporation (China Energy) announced on June 5 that it will add 15m kilowatts (kW), or 15 gigawatts (GW), of installed capacity of wind and solar power in 2021, as reported by Caixin on June 8. The new installed capacity of renewables in...
The Taskforce on Nature-related Financial Disclosures (TNFD), a new global initiative aiming to give financial institutions and companies a complete picture of their environmental risks, officially launched on June 4, 2021. An Informal Working Group (IWG) began the preparation work in September 2020 with support and...
PBoC plans to implement mandatory disclosures of climate and carbon emission information, and further improve the classification of green bonds in collaborations with the EU and the US, said Governor Yi Gang at a conference hosted by the Bank for International Settlements (BIS), as reported...
China Three Gorges Renewables [600905:CH] (CTG Renewables), a unit of state-owned clean energy group China Three Gorges (CTG), completed its IPO subscriptions and raised RMB22.7bn (USD3.55bn), as reported by Caixin on June 2. Later, the company will go public on the Shanghai Stock Exchange. This...
State Administration for Market Regulation (SAMR) held a regulatory meeting and required eight sharing economy companies engaged in bicycle or mobile power bank sharing to standardize pricing and competition practices, as reported by Caixin on June 3. The companies included Alibaba-backed [BABA:US] bike-sharing platform Hellobike,...
Beijing Children’s Law Aid and Research Center, the earliest legal child protection organization in China, announced on June 1 that it is suing Tencent [0700:HK] on its flagship mobile game, Honor of Kings, for infringing minor’s rights and interests, as reported by Caixin on June...
The Standing Committee of the Shenzhen Municipal People’s Congress published its revised draft of Shenzhen Special Economic Zone Data Regulations for comments on May 31, as reported by Caixin on June 4. Focusing on personal data protection, the regulations proposed the concept of data rights...
China’s State Administration for Market Regulation (SAMR) imposed a fine of RMB36.5m (USD5.7m) in total on 15 educational companies across the country, as reported by Xinhuanet on June 1. The 15 institutions include New Oriental [EDU:US], TAL Education’s [TAL:US] Xueersi Online School, Wallstreet English, Alibaba-backed [BABA:US]...
Aihuishou, also known as Wanwu Xinsheng, China’s largest secondhand electronics resale platform, filed an IPO on the New York Stock Exchange (NYSE) on May 29 under the ticker RERE. Founded in 2011, Aihuishou’s services include electronics recycling and eco-processing, an online secondhand electronic product transaction platform,...
China’s Ministry of Ecology and Environment (MEE) issued new guidelines to tighten scrutiny over industrial projects with high energy use and emissions, in a move to promote the green and low-carbon transition, according to the ministry’s official release on May 31. Projects with high emission...
Asian Infrastructure Investment Bank’s (AIIB) Board of Directors approved a revised Environmental and Social Framework (ESF), reasserting its commitments to environmental and social standards on May 21, as reported by People’s Daily on May 27. The revisions mainly include further strengthening commitment to combating climate...
National Development and Reform Commission (NDRC) and National Energy Administration (NEA) jointly released the renewable electricity consumption quotas for each province in 2021 and the expected targets in 2022 on May 25, as reported by Xinhuanet on May 26. Local energy departments are responsible for...
CBIRC Shenzhen Office proposed to explore differentiated regulatory policies for green finance such as capital occupation, regulatory assessment, tolerance of non-performance, and other measures to further encourage financial institutions to innovate in green finance, as reported by Caixin on May 29. For instance, Shenzhen Office...
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