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China has recently announced a pilot emissions trading scheme and that it will consider placing a cap on its emissions in its next Five Year Plan.
Both to support achievement of these targets and to lay the foundation for a future national market-based climate policy, at the end of 2011, China׳s government selected seven areas to establish pilot emissions trading systems (ETS).
Of seven pilot emissions trading schemes (ETS) being run in China, the ETS in Hubei province is the only provincial pilot in the central and western regions of the country with a high GDP growth rate and heavy industrial structure.
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The average price of China's pilot emission market (43 ¥/ton) and the recent EU ETS carbon price (about 58 ¥/ton) are both inadequate to motivate emission reduction.
Additionally, Chinese government has established 7 CO2 pilot emission trading markets in Beijing, Shanghai, Tianjin, Shenzhen etc., and will establish a China national CO2 emission trading market in the 13th Five-Year Plan.
In November of the same year, the State Planning Commission, the State Construction Committee, and the Ministry of Health jointly approved and promulgated China's first set of environmental standards, that is, "The Pilot Emission Standards on the Industrial Three Wastes".
BEIJING — China unveiled its first pilot carbon emissions exchange Tuesday, though plans for a nationwide rollout and efforts to apply the program to some heavy industries could be undermined by a slowdown in the nation's economy.
China's pilot carbon emission trading programs began operating in the second half of 2013 in 7 regions.
China has had its pilot carbon emission trading markets in seven regions for more than 3 years.
Then, after making a comparison with the other Chinese pilots and emissions trading schemes in the European Union (EU) and California, the paper offers a summary of several distinct features of the Hubei ETS.
Shanghai, as the most advanced mega city in China, has launched a pilot carbon emission trading scheme (SH-ETS) that is designed to achieve a compromise between the domestic context in Shanghai, and a need for national policy appeal.
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