Assisted a Hongtai Group subsidiary in registering as a private fund manager, advancing the establishment of a ten-billion 'Carbon Peaking' fund
On September 4, 2023, Hubei Hongtai Group Co., Ltd. ("Hubei Hongtai Group") wholly-owned subsidiary Hubei Dual Carbon Private Fund Management Co., Ltd. ("Dual Carbon Fund") successfully passed the review by the Asset Management Association of China, completing its registration as a private fund manager. Yingda's legal team served as special legal advisors for this project.
As a wholly-owned fund management entity of Hubei Hongtai Group, Dual Carbon Fund will be responsible for initiating and managing the 'Carbon Peaking' fund, with a total size of 10 billion yuan, aimed at accelerating the green and low-carbon transformation through capital empowerment. Adhering to the principles of 'government guidance, market operation, scientific decision-making, and risk prevention,' the 'Carbon Peaking' fund will focus on industrialization projects of green and low-carbon advanced technology, optimizing state-owned capital allocation in new energy and dual-carbon fields. With this, Hubei Hongtai Group has entered the formal collaborative operation stage of its institutions set up around the national and regional 'dual carbon markets,' following the top-level architecture of the 'trinity' carbon market financial system of China Carbon Registry, Hubei Carbon Exchange, and Wuhan Carbon Clearinghouse (in preparation).
Yingda's private fund and investment financing legal team is among the most active in Hubei Province in providing legal services for private fund investment and financing. As special legal advisors for the Dual Carbon Fund, they have consistently maintained a professional and responsible working attitude, leveraging their rich experience in fund projects to assist the Dual Carbon Fund in smoothly completing its registration as a private fund manager. The project was led by senior partner Zhao Erxi, with lawyers Tu Yang, Zhou Linglei, and Zhu Shijie handling the case.
