Hualian has completed a research on the feasibility of developing carbon trade and finance in the Pudong of Shanghai, as the final research report successfully passed the panel review held recently in Shanghai.

Shanghai, spearheaded by Pudong, has long been seeking to develop a low-carbon economy using its unparalleled financial and commercial strengths in China.

Hualian, in partnership with the Central University of Finance and Economics, took up the commission in the mid of this year and carried out on-site investigations and interviews with a wide range  of government agencies, banks, exchanges and corporations in Shanghai before coming out with the research report.

The research analyzes the current status of Shanghai in terms of developing carbon finance and trade in the light of the relevant global trends, identifies its strengths and weaknesses as against other regional or international competitors and puts forward a number of policy recommendations to the Pudong District government for further consideration. “We are very pleased to be able to help Pudong and Shanghai to carry out such a forward-looking research,” said Shawn He, head of the International Transactions of Hualian who is in charge of this research project, “We have been highly impressed by the enthusiasm and the vision of the Pudong District government in developing a low carbon economy, which we believe represents the future trends of economic development many other cities in China will follow.”

Mr He, co-author of the research report, said the successful completion of the research again reflects Hualian’s long-term commitment to legal practice in relation to new energy, climate change and carbon transactions in China. “In addition to the day-by-day practice in these areas, we will continue to carry out or support research projects of this kind in the future and share our thoughts and legal expertise in these areas with our clients and the wider interested public,” he said.