Chinese Enforcement of Environmental Laws May Impact NPL Transactions
By Alex Wang, Desirée Giler Mann and David J. Freeman
China has a plethora of environmental laws on the books, but like many developing countries, enforcement of those laws has not been a priority. However, a new trend is starting to emerge. In January 2005, China’s State Environmental Protection Administration (SEPA) suspended and sanctioned 30 large-scale infrastructure and construction projects because of their failure to comply with environmental impact assessment procedures.