China Net, November 5th The State Council Information Office held a press conference on November 5. Xie Zhenhua, deputy director of the National Development and Reform Commission, introduced China’s policies and actions in response to climate change in the 2013 annual report. Xie Zhenhua said that by the end of the year, the carbon markets in Beijing, Shanghai, and Guangdong are expected to start actual trading, with the purpose of exploring carbon trading markets that are in line with China's national conditions.
In answering a reporter’s question, Xie Zhenhua said that China’s carbon market is being piloted. On June 18 this year, Shenzhen’s carbon trading market was listed. The initial launch cost nearly RMB 30 per ton of carbon. After several months, one ton of carbon has stabilized at around 80 yuan on average, and the entire transaction volume is not very large. Now the transaction volume has reached 120,000 tons.
Xie Zhenhua said that the carbon market has grown faster in the short term, mainly because of the greater efforts to reduce emissions. At the end of this year, the carbon markets in Beijing, Shanghai, and Guangdong are also expected to start actual trading. The purpose is to explore carbon trading markets that are in line with China's national conditions to reduce overall emission reduction costs and achieve emission reduction targets.