It’s been in the works for years – China has been testing a cap-and-trade carbon market with regional pilot programs, assisted by the European Union and the World Bank. But President Xi Jinping chose his first state visit to the United States late last month to announce that China would establish a national carbon market starting in 2017.
President Xi made the announcement in a joint presidential statement issued by China and the United States on September 25. “China plans to start in 2017 its national emission trading system, covering key industry sectors such as iron and steel, power generation, chemicals, building materials, paper-making, and nonferrous metals,” the joint statement declares...............................................Full Article: Source
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