Latest News:  
Beijing   Overcast/Shower    29 / 21 ℃  City Forecast

English>>China Business

Carbon emission rights trading scheme launched


16:27, August 17, 2012

Shanghai on Thursday launched a pilot carbon emission rights trading scheme in a bid to encourage carbon emission reductions.

About 200 major local polluters, including industrial companies whose annual carbon dioxide emissions reach 20,000 tonnes and non-industrial enterprises whose annual emissions total 10,000 tonnes, will take part in the trading, the city government said in a statement.

Each of the carbon market participants will get a free quota for a certain base carbon emission. Companies failing to meet emission cut targets will need to buy quota from those whose emission cuts exceed the targets.

This thus created a new, market-oriented method for major polluters to meet emission cut targets, executives from major steel maker Baosteel said, adding that aggressive emission cutting companies would get earnings from the program.

"This is a landmark step China has made in building a domestic carbon emission trading market," according to Xie Zhenhua, a vice director of China's National Development and Reform Commission, the top economic planning agency.

In November last year, the agency approved the pilot scheme's operation in seven regions: Beijing, Tianjin, Shanghai, Chongqing, Shenzhen, Hubei and Guangdong.

China has pledged to reduce carbon dioxide emissions per unit of gross domestic product by 40 to 45 percent compared to 2005 levels by 2020.

News we recommend:
Has the bear outstayed his welcome? Steel profits continue to suffer China has entered an era of low consumer prices
Firms should watch out for Internet threats China's property market to cool down: experts Why have people lost trust in data and indices?
A ruling in Europe gives cheer to China  Online retailers declare cut-throat price war Zones to boost DPRK trade


Leave your comment0 comments

  1. Name


Selections for you

  1. "Penglai 2012" joint confrontation exercise

  2. Indians celebrate 65th Independence Day

  3. China's firms bigger but not necessarily better

  4. Kwok, Lau Promote 'Cold War' in Beijing

  5. Sexy bikini special forces

  6. Marvelous submarine volcano eruption

Most Popular


  1. Syrian neighbors different as crisis deepens
  2. Arms sales add fuel to regional security dilemma
  3. China's firms bigger but not necessarily better
  4. Japan should avoid making rash moves amid anxiety
  5. Consumers lose out in price war
  6. Is investment-based stimulus needed?
  7. Guangdong mulls rules to encourage heroism
  8. Commentary: Different kind of stimulus
  9. Africa more attuned to partnership with China
  10. Japan's abstaining from shrine visit positive

What's happening in China

South China braces for Typhoon Kai-Tak

  1. Ghostwriters doing homework
  2. Security guard for every school by 2013
  3. Coastal city builds 6-bln-yuan undersea tunnel
  4. Guangzhou to host sex-themed festival in October
  5. At least 18 trapped in Shaanxi mine

China Features

  1. Seven ways to keep healthy in autumn
  2. Why are luxury goods more expensive in China?
  3. Why are luxury goods more expensive in China?
  4. The mysterious Guangren Lama Temple in Xi'an
  5. Eight foods to eat in autumn

PD Online Data

  1. Spring Festival
  2. Chinese ethnic odyssey
  3. Yangge in Shaanxi
  4. Gaoqiao in Northern China
  5. The drum dance in Ansai