China plans to accelerate the construction of its national emissions trading scheme (ETS) during the year and to make the first trade in 2020. China started with seven regional trading platforms in 2013 and launched a national ETS in December 2017 but had to work on legal and technical infrastructure construction before starting trading.
The ETS will initially cover the country's power generation sector and in particular power generators with emissions of at least 26,000 tCO2/year (coal-fired units). It will cover electricity, chemicals, petrochemicals, construction, steel, non-ferrous metals, paper and aviation and will be later extended to the rest of the economy, covering 100,000 industrial plants emitting around 8 GtCO2/year.
China also plans to introduce a carbon tax and a renewable power quota system, to meet its commitments to cap emissions by around 2030.
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