On September 25, Tianjin Climate Exchange, co-established by CNPC Assets Management Co., Ltd. (holding a 53% stake), Tianjin Property Rights Exchange (holding a 22% stake), and Chicago Climate Exchange (CCX) (holding a 25% stake), was unveiled in the Tianjin Binhai New Area.  At the request of the State Council, Tianjin Climate Exchange is established as China's  first comprehensive platform for trading carbon credits under the Clean Development Mechanism, and will promote environmental protection and emission reduction by means of market and financial measures.  Tianjin Climate Exchange has the following goals: to help enterprises cost-effectively reduce emissions of pollutants, such as sulfur dioxide, chemical oxygen demand, etc; to help enterprises achieve maximum energy efficiency at minimum cost; to help enterprises manage environmental risks and meet increasing disclosure requirements; and to provide enterprises with integrated international emissions market access and experience.