Comparation of China s ETS Pilots and Features of Hubei
|
|
- Dwain Pope
- 5 years ago
- Views:
Transcription
1 Comparation of China s ETS Pilots and Features of Hubei QI Shaozhou Jean Monnet Chair Professor Economics and Management School Climate Change and Energy Economics Study Centre Wuhan University
2 Outline 1 Comparation of China s ETS Pilots 2 Policy Features of Hubei ETS Pilot
3 1. Comparation of China s ETS Pilots
4 General picture of China ETS pilots square kilometers land area (5% of China s land area) A population of 199 million (18% of China s total population, 2010) Gross domestic product of trillion (30% of China s GDP, 2010) 20% of China s total carbon emissions(the world's second-largest carbon market)
5 China s ETS Pilots reflect the characteristics and law of imperfect market in emerging economies In the left of EKC In a key stage of industrialization and urbanization Heavy chemical industry Considerable difference between regions/sectors High-speed growth of GDP Great uncertainty in economic growth, policy and market expectation Imperfect market, such as power industry Legal lag, poor data basis, weak environmental awareness Strong power and push of government
6 Market performance (1) Price: great difference convergence Price volatility: Price volatility of Shenzhen and Guangdong is high, the price of Hubei is stable Reason Shenzhen is marketorientation Guangdong has the problem of discontinuous policy Hubei emphasizes liquidity and starts from a lower price Beijing pay more attention to Compliance Chongqing oversupply of Allowance
7 Empirical Study Based on EEMD (Ensemble Empirical Mode Decomposition) In Hubei and Beijing ETS pilots Carbon price are mainly influenced by demand and supply, which means the shot term market factors play more important roles in these three markets and there is no major problem s in their policy or institution design. In Shanghai, Guangdong, Shenzhen and Tianjin ETS pilots Carbon price are mainly influenced by intrinsic trend item, which means there are some major problems in terms of their institution or policy
8 Market performance (2) Hubei: Other pilots: The largest trading volume and value Compliance-driven Transaction The highest liquidity Trading concentrate before Continuous transaction compliance Figure:Trading volume and turnover of each pilot (As of August 25)
9 Pilot Year Expected compliance date Actual compliance date Compliance rate Hubei 2015 May 30 July % June 30 (hand in the 2014 June % Shenzhen allowances before July 10) 2015 June 30 June % Shanghai Beijing Guangdong Tianjin Compliance Results (2014 and 2015) 2014 June 30 June % 2015 June 30 June % 2014 June 15 June % 2015 June 15 June 27 (hand in the allowances before June 30) 100% 2014 June 20 July % 2015 June 23 July 8 (the last firm completed the compliance) 100% 2014 May 31 July % 2015 May 31 July % Chongqing June 23 July 23 -
10 Empirical Study about the effect of ETS on Emission in the power sectors based on DID (Panel double difference regression method)
11 2. The Policy Features of Hubei ETS Pilot
12 Performance of Hubei ETS Pilot Price Liquidity Emission Reduction? Highest liquidity 100% Pricing compliance benchmark
13 CAP: 1. Tightened CAP and Flexible Structure 324 million (2014 ) 281 million (2015) % Rolling base year 2014: : Flexible structure Existing firm (fixed) New entrants(flexible) Government reserve (less than 8% of CAP)
14 2. Coverage------Focus on Large Enterprises 138 Firms 12 sectors (2014) 60,000 ton (standard coal equivalent) 168 Firms 15 Sectors (2015)
15 3. Tightened Initial Allowance (2014) 2010 emission 97% Initial allowance 73% of CAP
16 4. Allowance allocation- Three Combinations Free + Auction Free: Initial allowance and new entrant Auction: Less than 3% of Government reserve Grandfather +Benchmark Grandfather: non power heating(2014)/cement sectors(2015) Benchmark: power+heating (2014)+cement(2015) Pre-allocation + Ex-post adjustment Pre-allowance: initial allowance for existing capacity, half allowance for power sector(2014), Allocation for 2015 Based on output in 2014 for Benchmark, Pre- allocation part of 2016 for spot forward Ex-post adjustment: Added allowance for new capacity, Added allowance for over 20% or 200 thousand, CAP of next year, Allocation policy next year
17 5. Policy for increasing liquidity Tightened initial allowance General balance between demand and supply Diversified market participant Only traded allowance can be banking Carbon finance innovation Lower initial price Positive expectation
18 6. Balance demand and supply Buyer Seller 58 Firms 73 Firms T Allowance T Allowance
19 7. Three Balance Balance economic growth and emission reduction Limit compliance cost : within 20% or 200 thousand ton Lower compliance cost: 10% CCER can be used to compliance Balance demand and supply CAP structure Tightened initial allowance Government auction Investors structure Balance difference between sectors: Sector emission reduction factors 2014: united factors :different sector, different factor Abatement cost Abatement potential Competitive ability Emission change tendency of sector
20 Thank you 谢谢大家
China s Pilot and National ETS s
China s Pilot and National ETS s BPMR Korea March 24, 2015 Jeff Swartz Director-International Policy, IETA Climate Challenges, Market Solutions We will step up efforts against air pollution, promote ecological
More informationGHG EMISSIONS TRADING SYSTEMS RATIONALE AND DESIGN ELEMENTS GRZEGORZ PESZKO, LEAD ECONOMIST, WORLD BANK
GHG EMISSIONS TRADING SYSTEMS RATIONALE AND DESIGN ELEMENTS GRZEGORZ PESZKO, LEAD ECONOMIST, WORLD BANK Emission trading systems: definition and rationale Regulation where the government establishes a
More informationChina Carbon Market Monitor
China Carbon Market Monitor October 2015/No. 2 The PMR China Carbon Market Monitor provides timely information across the seven Chinese pilot carbon markets. It also provides analysis of climate policy
More informationCarbon finance and the carbon market in China. Citation Nature Climate Change, 2015, v. 5 n. 1, p
Title Carbon finance and the carbon market in China Author(s) Yu, X; Lo, AYH Citation Nature Climate Change, 2015, v. 5 n. 1, p. 15-16 Issued Date 2015 URL http://hdl.handle.net/10722/210097 Rights Citation:
More informationEmissions Trading Worldwide. International Carbon Action Partnership (ICAP) Status Report 2018
Emissions Trading Worldwide International Carbon Action Partnership (ICAP) Status Report 2018 02 07 Foreword Jean-Yves Benoit and Marc Allessie, Co-Chairs, International Carbon Action Partnership (ICAP)
More informationFree allocation - lessons learned from the EU
Free allocation - lessons learned from the EU Steven Mills UK Department for Energy and Climate Change PMR conference Shenzhen 12-13 March 2012 Phase I 2005-2007 Phases I & II bottom-up approach to cap
More informationPossible future linkage among emissions trading systems in East Asia
International Cooperation in East Asia to Address Climate Change Possible future linkage among emissions trading systems in East Asia Hyungna Oh* and Il-Young Oh** (*h.oh@khu.ac.kr; ** oiyoiy@hanmail.net)
More informationXinyuan Real Estate Co., Ltd.
Xinyuan Real Estate Co., Ltd. (NYSE: XIN) First Quarter 2008 Earnings Conference Call HK000NFJ_RS_V1 Safe Harbor This presentation may contain forward-looking statements. These statements are made under
More informationChinese FTZs and Their Contributions to BRI Shanghai Institute for Free Trade Zone Research, Fudan University General-Secretary Dr.
Chinese FTZs and Their Contributions to BRI Shanghai Institute for Free Trade Zone Research, Fudan University General-Secretary Dr. YIN Chen Disclaimer The views expressed in this publication are those
More informationCHINA CAMERA MARKET PROFILE
CHINA CAMERA MARKET PROFILE February 2011 INTRODUCTION This report discusses the camera market in China mainly from the following sections. - Size of Camera Market in China Based on Zeefer's China Market
More informationChina s National ETS. LIU Wenbo, SU Chang CHINA Kyiv, Ukraine
China s National ETS LIU Wenbo, SU Chang CHINA 2018.4.24 Kyiv, Ukraine ontents I. Background II. China's National ETS III.Next Step Part I Background Background Joint climate change statement between China
More informationKONE S CAPITAL MARKETS DAY 2011 Catching the China Opportunity. William B. Johnson Managing Director, KONE China
KONE S CAPITAL MARKETS DAY 2011 Catching the China Opportunity William B. Johnson Managing Director, KONE China Real estate market trends E&E market development Developing KONE in China Going forward 2
More informationRoss Garnaut The University of Melbourne 8 April The Centre for Contemporary Chinese Studies
Ross Garnaut The University of Melbourne 8 April 2014 The Centre for Contemporary Chinese Studies Agricultural and rural reform and growth 1978-84 Investment expansion while seeking ideological and political
More informationPost-2020 EU ETS Business as usual or a brave new world? ICIS Tschach Solutions customer seminar 11 November 2016 Milan
Post-2020 EU ETS Business as usual or a brave new world? ICIS Tschach Solutions customer seminar 11 November 2016 Milan About ICIS Tschach Solutions ICIS Tschach Solutions is the leading provider for global
More informationGlobal Cities. The changing urban hierarchy. December Economist
Global Cities Economist Mark Britton Associate Director The top 780 Global Cities currently produce almost 60 percent of all world economic activity, and they will grow in importance as urbanisation continues.
More informationState and Trends of Carbon Pricing 2016
State and Trends of Carbon Pricing 2016 1 State and Trends of Carbon Pricing 2016 report Objective To support the growing momentum for carbon pricing initiatives worldwide, the report will target the public
More informationTHE DEVELOPMENT OF CHINA S ESCO INDUSTRY,
THE DEVELOPMENT OF CHINA S ESCO INDUSTRY, 2004-2007 July 28, 2008 THE DEVELOPMENT OF CHINA S ESCO INDUSTRY, 2004-2007 July 28, 2008 China s ESCO 1 industry has grown at an astonishingly fast pace during
More informationCountry Tax Guide.
Country Tax Guide www.bakertillyinternational.com Country Tax Guide China Corporate Income Taxes There is no definition of a company in Chinese tax law and taxes on trading income are imposed on business
More informationThe Performance Evaluation of China's Enterprise Annuity Investment Operations
The Performance Evaluation of China's Enterprise Annuity Investment Operations Dong Yufang Shanghai University of Engineering Science Shanghai China Hao Yong, PhD Shanghai University of Engineering Science
More informationEU ETS and Sustainable Energy
EU ETS and Sustainable Energy European Sustainable Energy Policy Seminar, INFORSE, EUFORES, EREF Brussels, 20 March 2007 www.inforse.org/europe/seminar07_bxl.htm Piotr Tulej piotr.tulej@ec.europa.eu HoU
More informationADB Support to Thailand on the Development of Emissions Trading; Project synopsis
ADB Support to Thailand on the Development of Emissions Trading; Project synopsis Asia Pacific Carbon Forum, Bangkok 14 th December 2017 Mark Johnson Scope of work Policy objectives NDC alignment International
More information2015 Government Work Report Preview
Thomas Shik Senior Economist thomasshik@hangseng.com 2015 Government Work Report Preview Mainland China s Premier Li Keqiang will deliver his annual government work report to the National People s Congress
More information16 September, Handelsbanken. Helping your business succeed in Greater China. 14 th September
16 September, 2015 Handelsbanken Helping your business succeed in Greater China 14 th September Company Establishment in China 2 Incorporating in China 3 The process of establishing can be bureaucratic
More informationSupporting carbon pricing policies through crediting and RBCF. Frédéric Gagnon-Lebrun May 2016
Supporting carbon pricing policies through crediting and RBCF Frédéric Gagnon-Lebrun May 2016 World Bank supported Huge amount of detail, analysis, (ongoing) thinking Starting point Policy-based crediting
More informationEU ETS IN THE PARIS VISION
EU ETS IN THE PARIS VISION IETA SIDE EVENT COP23 / CMP13 / CMA2 16 November 2017, 18.00 19.30 International Emissions Trading Association Global cross-sectoral business association Over 130 companies Members
More information12 Years of EU-ETS Lessons learned
12 Years of EU-ETS Lessons learned Partnership for Market Readiness Turkey Project Roadmap for The Consideration of Establishment and Operation of A Greenhouse Gas Emissions Trading System in Turkey Closure
More informationSouth Pole Group 1/14/16 Page 1 South Pole Group Carbon Offset Strategies
South Pole Group 1/14/16 Page 1 South Pole Group Carbon Offset Strategies South Pole Group 22/06/15 Page 2 What are offsets? An offset is a quantified, verified emission reduction, that happened somewhere
More informationDoes the co-existence of carbon emission trading and white certificate make sense? The case of China
Presented at the 40 th International Conference of IAEE, 19-21 June 2017 Does the co-existence of carbon emission trading and white certificate make sense? The case of China Lei ZHU, Yuan Li, Xin WANG
More informationHong Kong & Mainland China News April-2015
Hong Kong & Mainland China News April-2015 HK, Mainland sign tax protocol Wednesday, April 01, 2015 Secretary for Financial Services & the Treasury Prof KC Chan signed the fourth protocol to an agreement
More informationBoao Forum for Asia Annual Conference 2016 Session Summary (No. 82)
Boao Forum for Asia Annual Conference 2016 Session Summary (No. 82) Boao Forum for Asia Institute March 25, 2016 Luncheon 5 A Conversation with Multilateral Financial Institutions Leaders Time: 12:15-14:15,
More informationEuropean emission trading system: EU-ETS
European emission trading system: EU-ETS with focus on the reading Industry Compensation under Relocation Risk, by Martin et al. 2014 Matti Liski Spring 2018 Background: EU-ETS Coverage Only certain sectors
More informationChina Zheshang Bank Co., Ltd. (2016.HK) 2016 Annual Results Announcement
China Zheshang Bank Co., Ltd. (2016.HK) 2016 Annual Results Announcement March 13, 2017 Disclaimer This document is prepared by China Zheshang Bank Co., Ltd. (the Bank ) without independent verification.
More informationXinyuan Real Estate Co., Ltd.
Xinyuan Real Estate Co., Ltd. (NYSE: XIN) Second Quarter 2008 Earnings Conference Call HK000NFJ_RS_V1 Safe Harbor This presentation may contain forward-looking statements. These statements are made under
More informationSector Compliance Report
NBIM INVESTOR EXPECTATIONS CLIMATE CHANGE RISK MANAGEMENT Sector Compliance Report 2010 1 Sector Compliance Report 2010 ISSN 1891-7720 Sector Compliance Report 2010 Print: 07 Gruppen a/s Design and illustration:
More informationOne Child Policy Fines Relative to Income Levels in China
One Child Policy Fines Relative to Income Levels in China A Report by All Girls Allowed November 1, 2012 Summary: Provincial enforcers of China s One Child Policy impose strict fines, called social burden
More informationHuaxin Cement Co., Ltd Annual Report Abstract
Stock Codes: 600801, 900933 Stock Abbreviations: Huaxin Cement, Huaxin B Share Huaxin Cement Co., Ltd. 2017 Annual Report Abstract I Important Notice 1. To fully understand the Company's operating results,
More informationEU ETS Structural Reform
EU ETS Structural Reform The Option for an Auction Reserve Price Paris, March 13 th 2015. Based in Paris, The Shift Project (TSP) is a Europe-wide think tank working towards an economy free from the constraints
More information8. Market-Based Instruments Emission Fees and Tradeable Emission Permits
8. Market-Based Instruments Emission Fees and Tradeable Emission Permits 8.1 Introduction Recall that cost-effective implementation of a given aggregate emission target requires that marginal abatement
More informationTSI European Hot Rolled Coil
TSI European Hot Rolled Coil Index Provider The Steel Index (TSI) Product Specifications Pricing Point Data Provider Publication Time It is the premier provider of independent price information for key
More informationChina s s influence on the global market
China s s influence on the global market PRICEWATERHOUSECOOPERS OOPERS 19 TH Annual Global Forest and Paper Industry Conference May 2006 Global Paper Markets are mature Printing and writing papers account
More informationINDUSTRY OVERVIEW SOURCE OF INFORMATION
3rd Sch3 The information presented in this section is, including certain facts, statistics and data, derived from the CIC Report, which was commissioned by us and from various official government publications
More informationTax Contribution and Income Gap between Urban and Rural Areas in China
Open Journal of Social Sciences, 2015, 3, 171-196 Published Online November 2015 in SciRes. http://www.scirp.org/journal/jss http://dx.doi.org/10.4236/jss.2015.311023 Tax Contribution and Income Gap between
More informationAnalysis of Dividend Policy Influence Factors of China s Listed Banks
Open Journal of Social Sciences, 2016, 4, 272-278 Published Online March 2016 in SciRes. http://www.scirp.org/journal/jss http://dx.doi.org/10.4236/jss.2016.43034 Analysis of Dividend Policy Influence
More informationChina and its Impact on the World. Cheng Li The Brookings Institution September 6, 2016
China and its Impact on the World Cheng Li The Brookings Institution September 6, 2016 Outline 1. The Current Economic Slowdown 2. Political Context and Major Initiatives under Xi Jinping 3. China s Development
More informationSECTOR OVERVIEW. A. Economic Overview
Proposed Loan Program for Clean Bus Leasing (RRP PRC 46928) A. Economic Overview SECTOR OVERVIEW 1. Economic growth in the People s Republic of China (PRC) has averaged 9.9% annually since reforms to open
More informationInvestor Presentation. April 2016
Investor Presentation April 2016 Contents Page 1Q16 Update Business Review Outlook & Prospects Appendix 2 16 29 33 1 1Q16 Update 2 1Q16 Macro Update (RMB Trillion) 63.6 National GDP 67.7 National FAI (RMB
More informationCapitaLand Media / Analysts Trip: CapitaLand China Mr. Lucas Loh, CEO, CapitaLand China
CapitaLand Media / Analysts Trip: CapitaLand China Mr. Lucas Loh, CEO, CapitaLand China 1 16 November 2015 Disclaimer This presentation may contain forward-looking statements that involve risks and uncertainties.
More informationBusiness Risk Management of China Joint-venture Gas Companies
Business Risk Management of China Joint-venture Gas Companies K T Leung Head - Corporate Risk Management The Hong Kong and China Gas Co. Ltd. 1 Dec 2005 1 Strong Economic Growth in China 2001 2010 GDP:
More information2017 Credit Risk Outlook for China s Financial Guarantee Industry
2017 Credit Risk Outlook for China s Financial Guarantee Industry United Credit Ratings Co. Ltd. January 2017 1 2017 Credit Risk Outlook for China s Financial Guarantee Industry Abstract Financial guarantee
More informationChina s Industrial Economy 2017 Q1 Report 1
China s Industrial Economy 2017 Q1 Report 1 Gan Jie Center on Finance and Economic Growth Cheung Kong Graduate School of Business 1 This report is based on a nationwide quarterly survey of industrial firms,
More informationIMPORTANCE OF INFRASTRUCTURE CONSTRUCTION IN CHINA
IMPORTANCE OF INFRASTRUCTURE CONSTRUCTION IN CHINA CHINA BUILDS ITS WAY TO THE TOP 1 5 J A N U A R Y 2 0 0 9 Significant reform and modernization of China s economy have occurred over the past 30 years.
More informationChina CleanTech Index
China CleanTech Index July-September 2016 Quarterly Performance Report Published internationally by: Published in China by: Published in Australia by: Produced by: To request further information or to
More informationChina CleanTech Index
China CleanTech Index January-March 2017 Quarterly Performance Report Published internationally by: Published in China by: Published in Australia by: Produced by: To request further information or to be
More informationInsurance Accounting Transformation The journey of Indian insurers towards IFRS 4 Phase I and Phase II
Speaker Name & Country : Francesco Nagari, Global IFRS Insurance Leader at Deloitte Topic: Insurance Accounting Transformation The journey of Indian insurers towards The lack of comparability and the often
More informationAdopting the policy instruments to Establish ETS in Asia countries
2011 3rd International Conference on Advanced Management Science IPEDR vol.19 (2011) (2011) IACSIT Press, Singapore Adopting the policy instruments to Establish ETS in Asia countries Wan, Wen-Cen + Science
More informationA Study on the Government Performance Evaluation Based on the Government Work Report of State Council and of Governments at Provincial Level
A Study on the Government Performance Evaluation Based on the Government Work Report of State Council and of Governments at Provincial Level Xiuling Ma (School of Management, Lanzhou University, 730000,
More informationReflecting Environmental Risks in Financial Analysis
Reflecting Environmental Risks in Financial Analysis Coal-to-Chemical Sector in China as an Example Derek Ip, Senior Research Analyst, Financial Institutions Trucost, Part of S&P Dow Jones Indices March
More informationKONE CAPITAL MARKETS DAY 2012 Sustainable growth in China. William B. Johnson, Managing Director, KONE China June 8, 2012
KONE CAPITAL MARKETS DAY 2012 Sustainable growth in China William B. Johnson, Managing Director, KONE China Agenda Construction market trends E&E market development Improved competitiveness with new offering
More informationChina CleanTech Index
China CleanTech Index April-June 2016 Quarterly Performance Report Published internationally by: Published in China by: Published in Australia by: Produced by: To request further information or to be added
More informationETS PHASE IV REVIEW AMENDMENTS OPTIONS CEMENT INDUSTRY S VIEWS
ETS PHASE IV REVIEW AMENDMENTS OPTIONS CEMENT INDUSTRY S VIEWS The European institutions are intensively debating the EU ETS Phase IV options. The present paper aims at outlining what the cement industry
More informationAPBO 2014 COUNTRY OUTLOOK:
APBO 2014 COUNTRY OUTLOOK: CHINA start here BIG BROTHER THE REFORMERS THIRD PLENUM LIANG HUI SHANGHAI FTZ BIG TRENDS CHINA S GDP TRADE SURPLUS INCOME DISPARITY GROWTH/DISPOSABLE INCOME GINI COEFFICIENT
More informationRevision of EU ETS for
Revision of EU ETS for 2021-2030 Cogen conference 23 March 2016 EU leaders guidance ETS revision proposal Difficult package agreement - finely crafted balance Environmental aspects: Targets: At least 40%
More informationthyssenkrupp Equity Story Components Technology November 2017
thyssenkrupp Equity Story Components Technology November 2017 thyssenkrupp a diversified industrial group Sales 41.4 bn 1 ; EBIT adj. 1.7 bn 1 Continuing operations Components Technology (CT) 7.6 bn 377
More informationDeep Dive into Policy Instruments Emissions Trading Schemes. Pablo Benitez, PhD World Bank Hanoi, Vietnam March 14, 2014
Deep Dive into Policy Instruments Emissions Trading Schemes Pablo Benitez, PhD World Bank Hanoi, Vietnam March 14, 2014 bout this Lesson In this lesson, you will review: n overview of emissions trading
More informationThe Clean Technology Fund. U.S. Treasury Department. June 2008
The Clean Technology Fund U.S. Treasury Department June 2008 Clean Technology Fund Overview Why What Who How much How When 1 Why? By 2030, 80% of GHG emission growth is expected to come from non-oecd countries,
More informationChina s Economic Growth Model Medium and Long Term Challenges
China s Economic Growth Model Medium and Long Term Challenges Geng XIAO Fung Global Institute www.funglobal institute.org Centre of economic gravity is shifting back to East Asian Century Scenario by Asian
More informationALLOWANCES 6TH SOUTH EAST EUROPE ENERGY DIALOGUE, MAY 2012 PANTELIS MANIS, HEAD THESSALONIKI STOCK EXCHANGE CENTER
GREENHOUSE GAS EMISSION ALLOWANCES 6TH SOUTH EAST EUROPE ENERGY DIALOGUE, MAY 2012 PANTELIS MANIS, HEAD THESSALONIKI STOCK EXCHANGE CENTER GHG Emissions: History 2 GHG Emissions: Participation of countries(kyoto)
More informationQuantitative analysis of financial development s impact on economic growth
Available online www.jocpr.com Journal of Chemical and Pharmaceutical Research, 204, 6(4):86-9 Research Article ISSN : 0975-7384 CODEN(USA) : JCPRC5 Quantitative analysis of financial development s impact
More informationForward Contracts and the Curse of Market Power
Forward Contracts and the Curse of Market Power Jeff Lien Presented at the Sixth Annual POWER Research Conference on Electricity Industry Restructuring March 16, 2001 Introduction Features of power generation
More informationEmerging & Existing Trading Platforms
Emerging & Existing Trading Platforms Scott Hernandez Head of Sales & Trading, North America RENEWABLE ENERGY MARKETS DECEMBER 3, 2014 CTX OVERVIEW OF CTX CTX operates spot exchanges for multiple environmental
More informationTaiheiyo Cement Corporation
Taiheiyo Cement Corporation Reference Materials of Financial Results for the (From April 1, 2013 through September 30, 2013) Contents Trend in Construction Investments and Domestic Demand of Cement Page
More informationAfghanistan. Key Indicators of Developing Asian and Pacific Countries. Item
184 POPULATION Total population million; as of 1 July 16.7 17.6 19.2 21.0 21.4 21.8 22.2 23.2 Population density persons per square kilometer 23 25 27 30 31 31 32 33 Population annual change, % 1.92 1.92
More informationChina. AVCJ private equity and venture capital report. 14 th annual edition
China 2018 AVCJ private equity and venture capital report 14 th annual edition CONTENTS 1 Introduction 4 Keeping up the Good Work 2 Assets Under Management and M&A 6 Ample Assets, M&A Marginally Changed
More information3. Chinese economy shifts emphasis to expansion of domestic demand
3. Chinese economy shifts emphasis to expansion of domestic demand (1) Increasing presence of the Chinese economy China has achieved remarkable economic development over the 3 years since it started the
More information2016 Interim Results Presentation. Bench-marking for Efficiency 學標杆增效益
2016 Interim Results Presentation Bench-marking for Efficiency 學標杆增效益 Contents 1 Results Highlights 2 Operational Highlights 3 Major Development 4 Company Strategies 5 Financial Highlights 2 1 Results
More informationASX Plans to Support and Service the Carbon Pollution Reduction Scheme. Anthony Collins General Manager, Energy & Environment
ASX Plans to Support and Service the Carbon Pollution Reduction Scheme Anthony Collins General Manager, Energy & Environment Outline The Role of Financial Markets Likely Market Evolution Emissions Trading
More informationFor the year ended 31 December 2014 Final Results Presentation. Stock : 697
For the year ended 31 December 2014 Final Results Presentation Stock : 697 Content Company Overview Industry Overview Financial Highlights Operation Review 1 Company overview Listed in Hong Kong since
More informationGreen Financing & Green PPP implementation in China. WANG Dai Researcher/Engineer Tianjin Academy of Environmental Sciences
Green Financing & Green PPP implementation in China WANG Dai Researcher/Engineer Tianjin Academy of Environmental Sciences Köln - Germany 17/09/2017 Green Financing & Green PPP implementation in China
More informationMarket Summaries. People s Republic of China. Yield Movements. Size and Composition
People s Republic of China 37 Market Summaries People s Republic of China Yield Movements In the second quarter (Q2) of 2017, the yield curve of the People s Republic of China (PRC) experienced unusual
More informationRapporteur: Haiyi Liu
"Can China Sustain its Growth? China's Economic Challenges in the Next Ten Years" Monday, January 7, 2013 Event Summary Event Sponsored by Fudan- UC Center on Contemporary China Co- hosted by the 21st
More informationMizuho Economic Commentary-China
Mizuho Economic Commentary-China May 15 Topic The impact of monetary easing in China and the outlook from here on China has taken a series of monetary easing measures since around the end of last year.
More informationCarbon Tax and Equity
Center for International Research on Environment and Development Paris, France Carbon Tax and Equity The Importance of Policy Design Emmanuel Combet Frédéric Ghersi Jean Charles Hourcade Daniel Théry Problematic:
More informationBC Natural Resources Forum Rock Into the Future. Mark Edwards VP Community and Government Relations
BC Natural Resources Forum Rock Into the Future Mark Edwards VP Community and Government Relations Forward-Looking Information These slides contain certain forward-looking statements within the meaning
More informationGHG EMISSIONS TAX RATIONALE AND DESIGN ELEMENTS GRZEGORZ PESZKO, LEAD ECONOMIST, WORLD BANK
GHG EMISSIONS TAX RATIONALE AND DESIGN ELEMENTS GRZEGORZ PESZKO, LEAD ECONOMIST, WORLD BANK Carbon taxes often higher then ETS prices Source: World Bank, State and Trends of carbon Pricing 2015 2 Tax on
More informationChina s Current Economic Situation and Policy Implications
China s Current Economic Situation and Policy Implications Xuesong Li Professor of Economics, xsli@cass.org.cn Deputy Director of Institute of Quantitative & Technical Economics Chinese Academy of Social
More informationCalifornia Carbon Markets: An overview of the trading activity in California s cap and trade market
California Carbon Markets: An overview of the trading activity in California s cap and trade market Prepared by: John Battaglia, VP, Evolution Markets Inc. Prepared for: UC Davis Urban Forestry Workshop
More informationResults First Quarter 2012
Results First Quarter 2012 Harrie Noy, Chief Executive Officer Renier Vree, Chief Financial Officer Amsterdam, the Netherlands, Imagine the result DISCLAIMER Statements included in this presentation that
More informationTHE MULTIVARIATE REGRESSION MODEL OF THE PRICES OF CHINA S URBAN COMMERCIAL RESIDENCE
THE MULTIVARIATE REGRESSION MODEL OF THE PRICES OF CHINA S URBAN COMMERCIAL RESIDENCE Ming Xuan YU, Dan GAO, Han Jue WANG Business school, RENMIN university of China Abstract: There are various factors
More informationAbout Pan-China Group
Pan-China Group About Pan-China Group Pan-China Group is a large scale accounting network focusing its practices in accounting, tax and advisory in Greater China. The headquarter is located in Hanzhou
More informationEmissions Trading Worldwide Executive Summary. International Carbon Action Partnership (ICAP) Status Report 2018
Emissions Trading Worldwide Executive Summary International Carbon Action Partnership (ICAP) Status Report 2018 Emissions Trading Worldwide Executive Summary International Carbon Action Partnership (ICAP)
More informationETS ALLOCATION in KOREA
Experience with Emission Benchmarks ETS ALLOCATION in KOREA 1 st October 2015 ECO&PARTNERS Dae-Woong Lim 0 Contents 1. National GHG Reduction Target 2. K-ETS: Implementation Phase, Emission Caps by Sectors
More informationclusters, which will be, after the Shanghai Expo, the engine for the Shanghai economy.
November 18, 2009 The Canon Institute for Global Studies Kiyoyuki Seguchi, Research Director Overseas Information Analysis / Network Group Trends in Macro Economy, Shanghai City, Shandong Province Current
More information2013Q3 Wind Instrument Produced by IAR Team Focus Technology Co., Ltd.
2013Q3 Wind Instrument 2014.07 Produced by IAR Team Focus Technology Co., Ltd. Contents 1. China Wind Instrument Exports from Jan. to October in 2013... 3 1.1. China Wind Instrument Export Volume and Value
More informationThe Political Economy of China's Growth Model and its Implications for Other Developing Countries
The Political Economy of China's Growth Model and its Implications for Other Developing Countries By Tao Ran Professor, School of Economics Remin University of China China s Growth Model Political economists
More informationPM2.5, Investor Sentiment, and Stock Returns
2017 2 nd International Conference on Architectural Engineering and New Materials (ICAENM 2017) ISBN: 978-1-60595-436-3 PM2.5, Investor Sentiment, and Stock Returns Xiaobei Huang ABSTRACT This paper investigates
More informationRobert Dekle Department of Economics University of Southern California Los Angeles, CA U.S.A.
1 THE GEOGRAPHY OF CHINA S CURRENT ACCOUNT SURPLUSES: A DESCRIPTIVE NOTE Robert Dekle Department of Economics University of Southern California Los Angeles, CA U.S.A. Huayu Sun Department of Economics
More informationUrban Wholesale Price Change and Economic Growth in Modern China
Urban Wholesale Price Change and Economic Growth in Modern China YURU WANG * (Institute of Economics, Nankai University) Abstract: It is well known that the motion of prices is the core of the market mechanism,
More informationDEFINITION of 'Fiscal Policy' Government spending policies that influence macroeconomic conditions. Through fiscal policy, regulators attempt to
1 DEFINITION of 'Fiscal Policy' Government spending policies that influence macroeconomic conditions. Through fiscal policy, regulators attempt to improve unemployment rates, control inflation, stabilize
More informationChina s Systemic Risk (II/II): Local Government Debt
For professional investors 14 May 2014 1 Chi on China China s Systemic Risk (II/II): Local Government Debt SUMMARY The problem with China s local government debt (LGD) is the combination of its rapid rate
More informationIE Singapore s Assistance to Singapore Companies
IE Singapore s Assistance to Singapore Companies Esther Xu Financing Management Division 16 April 2014 IE Singapore, Your International Business Partner Singapore s economic development Inward investment
More information