The purpose of these Measures is to strengthen and standardize the fund raising, management and use of the China Clean Development Mechanism Fund and achieve the objectives of the Fund. The Text consists of 36 articles divided into 7 Chapters: General Provisions (I); Administrative Bodies and Their Duties (II); Fund Raising (III); Fund Use (IV); Management of Projects supported by Grants (V); Management of Projects Which Are not Supported by Grants(VI); Supplementary Provisions (VII). The Fund is a policy-oriented fund established with the approval of the State and managed in the manner of a social fund (art 2). The Fund's objectives are to support the national response to climate changes and promote sustainable economic and social development (art.3). The Fund's administrative bodies consist of the Fund Board and the Fund Management Center (art.5). The Fund Board is an inter-ministerial deliberative body regarding the Fund affairs. The Fund Management Center is the Fund's day-to-day administrative body, specifically responsible for the fund raising, management and use. In these Measures, “emission reduction credits” refer to the greenhouse gas emission reduction credits that are transferred through a clean development mechanism project with the approval of the state; “emission reduction income” refers to the income obtained from the transfer of emission reduction credits. Emission reduction income shall be divided between the state and the enterprise implementing a clean development mechanism project according to a prescribed proportion. The state-owned part of the emission reduction income shall be contributed to the Fund in full. The Fund Management Center is responsible for collecting the state income from the project owner or, as agreed on under the emission reduction credit transfer contract, from the purchaser of emission reduction credits.
China · 2010-09-14