The Guangdong emission trading scheme (China) has met its targets set for 15 July 2014, with 182 companies handing over permits to the province government to cover their 2013 emissions; 99.97% of the permits were returned to the government. Under this trading scheme, introduced in December 2013, 202 electricity generation companies and large manufacturers have been issued a total of 350 million permits, representing 350 MtCO2; the companies had to acquire 3% of their total permits through government auctions at a minimum price of Cyu 60 (US$9.66) each and 11.1 million permits were sold through these auctions, all at the minimum price. A marginal part of the permits were traded on the secondary market (only 1.2 million permit).
The 2014 allocation plan, expected in late July 2014, will be slightly changed to improve market liquidity and functionality (mandatory auctions could be modified and the minimum price could be dropped). It will also include seven new industries in the trading scheme, such as textile producers or ceramics manufacturers.
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