China plans to launch national carbon market in July: State Council

摘要

China’s nationwide carbon emissions trading system, or ETS, is expected to start trading in July, Premier Li Keqiang said at the State Council’s executive meeting on July 7. The highly anticipated launch of China’s ETS was initially slated for end-June, but was postponed due to undisclosed reasons. The country’s carbon market is significant because it could become the world’s largest by volume of tradeable carbon allowances when it covers all key sectors under its purview. Additionally, China’s environment ministry and other agencies have been preparing for the launch of the carbon market for several years with multiple test pilots at a regional level, to assess the scope and impact of carbon trading on various businesses and industries.