Undated file photo shows the office of China Emissions Exchange (Guangzhou) in Guangzhou, south China's Guangdong Province. (China Emissions Exchange (Guangzhou)/Handout via Xinhua)
BEIJING, May 27 (Xinhua) -- China's national carbon market, or emission trading system (ETS) is expected to enter operation before the end of June, said Liu Youbin, spokesman of the Ministry of Ecology and Environment, at a press conference on Wednesday.
Various transaction tests have been completed so far, and more preparations are underway before the official operation, said Liu.
According to Liu, China is likely to become the largest carbon trading market in the world by covering a maket size with carbon emission of about 4 billion tonnes.
In an effort to build a national ETS, the country has been piloting emission trading at the regional level since 2011, covering seven provinces and cities including Beijing, Shanghai and Guangdong, according to Li Gao, head of the department for addressing climate change under the Ministry of Ecology and Environment.
He said trading in the seven pilot cities saw transaction value reach 10.47 billion yuan (1.64 billion U.S. dollars) as of March, with traded emission quotas exceeding 440 million tonnes. About 3,000 major carbon emitters in more than 20 industries have been involved in the trading.
In a bid to achieve its carbon-neutral target, China aims to cut carbon dioxide emissions per unit of GDP by 60 percent to 65 percent from the 2005 level by 2030.
(Edited by Li Shimeng with Xinhua Silk Road, lishimeng@xinhua.org)
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