Xinhua Silk Road - Belt and Road Portal, China's silk road economic belt and 21st Century Maritime Silk Road Website Xinhua Silk Road - Belt and Road Portal, China's silk road economic belt and 21st Century Maritime Silk Road Website
Subscribe CustomBlackClose

Belt & Road Weekly Subscription Form

download_pop

Research ReportCustomBlackClose

The full edition of the report is available at Xinhua Silk Road Database. You can click the “Table of Content” to have a general understanding of it.

Click on the button below to create your account and get immediate access to thousands of articles.

Start a Free Trial

Xinhua Silk Road Database
Economy

China frames interim rules for carbon emissions trading

January 07, 2021


Abstract : China's environmental apparatus on Tuesday rolled out interim rules for carbon emissions trading management, which will take effect on Feb. 1.

BEIJING, Jan. 6 (Xinhua) -- China's environmental apparatus on Tuesday rolled out interim rules for carbon emissions trading management, which will take effect on Feb. 1.

The rules are a key step to China building a national emissions trading system (ETS).

In the initial phase, 2,225 power firms that emit over 26,000 tonnes of greenhouse gases per year can start trading their emission quotas, according to the Ministry of Ecology and Environment (MEE).

This is the first time the country has clarified the responsibilities of the enterprises to cut greenhouse gas emissions, said Li Gao, head of the department of climate change under the MEE. This will help boost green development, Li added.

China since 2011 has piloted emissions trading at the regional level involving seven provinces and cities such as Beijing, Shanghai and Shenzhen amid its drive to build a national ETS.

According to the World Bank, there are two types of carbon pricing: ETS and carbon taxes. An ETS, sometimes referred to as a cap-and-trade system, caps the total level of greenhouse gas emissions. However, it then allows those industries with low emissions to sell their extra allowances to larger emitters.

The country has announced it would strive to bring carbon dioxide emissions to a peak before 2030 and become carbon neutral before 2060. Enditem

Scan the QR code and push it to your mobile phone

Keyword: carbon emissions trading

Reading:

China's MIIT, CCB ink strategic co-op agreement on financial services for SMEs

China debuts high-speed train for extremely low temperatures

Digitalization of industrial belts may become new momentum for China's economic development, expert

Economic Watch: China's economy to keep recovering with proactive fiscal policy

GM delivers 2.9 mln vehicles in China in 2020

Write to Us belt & road login close

Do you want to be a contributor to Xinhua Silk Road and tell us your Belt & Road story? Send your articles to [email protected] and share your stories with more people.

Click on the button below to create your account and get im http://img.silkroad.news.cn/templates/silkroad/en2017te access to thousands of articles.

Start a Free Trial

Ask Us A Question belt & road login close

If you have any questions, please enter them in the box below.

Identifying code Reload

Write to Us belt & road login close

Do you want to be a contributor to Xinhua Silk Road and tell us your Belt & Road story? Send your articles to silkroadweekly@xinhua.org and share your stories with more people.

Click on the button below to create your account and get im http://img.silkroad.news.cn/templates/silkroad/en2017te access to thousands of articles.

Start a Free Trial