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HONG KONG, Aug 23, 2010 - (ACN Newswire) - Following formulation of the "Opinion to Accelerate the Energy Management Contract and Facilitate the Energy-Saving Sector Development" earlier, and the Ministry of Finance's arrangement of subsidizing RMB 2 billion dollar to energy service companies for supporting the development of the energy management contract (CEM) model, related policies are expected to be filed out before the end of 2010. Industry admitted, CEM, which promotes new business model by saving energy and reducing emission, will eventually provide new growth opportunities, while China Trends Holdings Limited ("China Trends", Stock Code: 8171.HK), a strong financial backing company, plans to move on with this direction, and is determined to meet the huge opportunities.
With the drafting of the Opinion, relevant supporting details are expected to carry out. Dr.Li Pengcheng, an expert of the China National Institute of Standardization (CNIS), was quoted as saying that, the General Principles for CEM Technology has passed examination organized by the National Standardization Administration (NSA) in May 2010, and the national standard would probably be issued before the end of 2010.
According to Dr.Li, the national standard provides definitions for important terms on CEM, technological requirements and standardized contract samples. This reflects the maturity of the market, while the promotion of energy-saving applications of CEM also provides technical support for the industry.
In view of the rapid growth of CEM market in China, China Trends has settled the financial arrangements as foundation to meet the great opportunities. The Company and Industrial and Commercial Bank of China Limited (Stock Code: 1398.HK) Shenzhen Xinghe branch ("ICBC") entered into cooperation in June, in which the bank will provide financing support for the Company's CEM development.
The Company and its subsidiaries, as energy-saving service company, are keen on developing CEM business which requires project financing from banks to support the operation. In supporting the policy of the PRC government to promote the CEM and facilitate energy-saying sector development, ICBC, as one of the largest commercial bank in China, will provide the Company the project financing for CEM business.
In fact, the industry generally believes that the traditional manufacturing industry is facing backward elimination, whereby the new model of CEM will help promoting new growth opportunities. As the Company is planning to provide energy-saving 3C electronics products and solutions to customers by mean of CEM under build-operate-transfer or BOT model and to promote them in different aspects of the society, the expansion cost is thought to be huge.
Based on the cooperation with ICBC, for the upcoming CEM project financing, the Company will treat ICBC as its first priority on project financing for CEM business, while ICBC will provide the Company the project financing, including project loan and factoring service for CEM business. ICBC will also provide the Company the guidance on project financing, rationalization of application and approval procedures for CEM business.
Contact:
Carmen Lee
Investor Relationship Department
China Trends Holdings Limited
Email: carmen.lee@8171.com.hk
Tel: +852 2111 9988
Direct: +852 2155 6275
Mobile: +852 6301 6611
Topic: General Announcement
Source: China Trends
Sectors: Daily Finance, Alternative Energy
http://www.acnnewswire.com
From the Asia Corporate News Network
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