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China Legal News
Establishment of Tianjin Climate Exchange
On September 25 2008, Tianjin Climate Exchange (TCX) was set up in the Tianjin Binhai New Area, which is a joint venture between Chicago Climate Exchange (CCX), the municipal government of Tianjin and the asset management unit of Petro China.

The establishment of TCX is regarded as China's first comprehensive platform for trading emissions under the Clean Development Mechanism. The real exchange is expected to be started up before the end of this year, which means that enterprises can buy and sell legal emissions rights on this platform in a similar manner as they would trade securities in a stock exchange. By means of this kind of market and financial measures, the “Clean Development Mechanism” (CDM) is strengthened, which will definitely promote environmental protection and emission reduction in China.

Measures on enhancing the supervision of construction industries in China
In order to regulate the development of the construction industries and remedy the problems during the implementation of the recent RMB4 trillion government stimulus package, the general office of the Central Committee of the Communist Party of China and the State Council jointly issued "Zhong Banfa" Document No. 27 on July 9th, 2009, which stated the harms and specific measures to settle the problems mentioned.

The main problems identified are as follows: