Latest News:  


China to launch carbon market trading scheme


13:23, June 18, 2013

China is set to launch its first carbon trading scheme Tuesday in the southern city of Shenzhen. It’s one of seven pilot cities for emissions trading before a national rollout.

In the spot light, but compared with Shenzhen government officials, the city’s ambitious carbon city blueprint is attracting more attention.

The plans were unveiled at a forum in Longgang, 50 kilometers away from downtown Shenzhen. This is what the city envisions for the future.

It’s the miniature, and could be the start of another low-carbon city in Shenzhen. From the eco-friendly building material, efficient water irrigation and sewage treatment systems, to the electric cars driving by...the local government is hoping to set up an example for its urbanization.

Wang Rong, Shenzhen Municipal Party Secretary, said, “Via this forum and the low carbon city, all explorations, exchanges and innovations will enhance each other, and contribute to ecological preservation.”

Shenzhen is to hold Tuesday a high-profile launch of China’s first carbon trading market. This is a widely used method to put a price on carbon dioxide emissions produced by burning fossil fuels.

Shenzhen, already the most energy efficient city in Guangdong Province, has set an aggressive target of slashing emissions intensity by one fifth by the end of 2015.

"It’s a very market-oriented way to keep of CO2 emissions low and get it lower. It’s a natural way to lower emissions. The trading system itself has to prove itself. But i think it’s the best system at this moment applicable," Hugo Brouwer, Dir. of Energy Transition, Ministry of Economic Affairs, Netherlands, said.

For now, analysts are too conservative to predict the short-term positive impact of the trading scheme, at a time when China’s growth is losing oomph.

Investors say developing the eco-friendly industry will churn out more business opportunities.

"It’s very important because it allows China to work with partner countries. These are attractive elements where we can have infrastructure and innovative centers to develop these new industries," Michael Brook, Executive Manager of Film Auckland, NZ said.

China may be the world’s biggest emitter of carbon dioxide and made the largest contribution to the global rise last year, but its emission growth is slowing. Analysts say that shows China’s efforts to adopt renewable sources and improve energy efficiency are paying off.

We Recommend:

Fortune Global Forum's guests visits panda

China calls for dialogue after EU solar panel duties

China-South Asia Expo opens in SW China

Huawei launches flagship smartphone Ascend Mate

3D printing gallery opens in Chongqing, SW China

White collars setting up stalls become popular

B787 Dreamliner misses maiden voyage in China

Computex Taipei 2013 exhibition kicks off

12 Asian business women: Intelligent and beautiful

Email|Print|Comments(Editor:WangXin、Gao Yinan)

Leave your comment0 comments

  1. Name


Selections for you

  1. People welcome Chinese destroyer

  2. Soldiers in joint military training

  3. 50th Int'l Paris Air Show kicks off

  4. Heatweave overwhelms Shanghai, Yangzhou

  5. Photos: The ordinary love

  6. China’s weekly story (2013.6.7-6.14)

  7. Amazing Narati Scenic Spot in Xinjiang

  8. Top 10 highest-paid athletes

  9. China is the largest buyer of high-end cameras

  10. ATC Show 2013 closes in Beijing

Most Popular


  1. Creative industries go high-tech and high end
  2. Why fear and loathing of an IPO?
  3. US public ready to be fooled again on Iran
  4. Weibo draws more than just locals
  5. Keeping a watchful eye on Japan’s 'new cold war'
  6. In praise of graffiti and holiday photos
  7. The thinking behind U.S. surveillance programs
  8. China's space program less costly
  9. SCO chief lauds Harbin fair's co-op contribution
  10. Calling for new type of industry

What’s happening in China

Sweating at Yoga club: white collars' new choice after work

  1. 'Gay' wives are anything but gay
  2. Sedan becomes minister's car
  3. Gov't bans private adoptions of abandoned infants
  4. Quake survivor commits suicide
  5. Weibo draws more than just locals