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New carbon trading rules take effect to strengthen China's green development

Updated: Feb 02,2021 09:38 AM    Xinhua

A set of interim rules for carbon emissions trading management in China came into effect on Feb 1, marking a key step in the establishment of a unified national emissions trading system (ETS) amid the country's all-out efforts to meet its 2060 carbon-neutral target. A total of 2,225 power firms across the country, assigned with carbon dioxide emission caps, can trade their emission quotas via the system whereby firms that exceed their caps can purchase unused quotas from those with low emissions. China has announced that it will strive to bring its carbon emissions to a peak before 2030 and become carbon neutral before 2060.

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