China launches national market for voluntary greenhouse gas emission reduction trading

Chinese Vice Premier Ding Xuexiang on Monday announced the start of a national market for the trading of voluntary greenhouse gas emission reduction in Beijing.

Ding, also a member of the Standing Committee of the Political Bureau of the Communist Party of China Central Committee, was given a virtual insight to the market construction and trading during the launch ceremony.

Four developers of the emission reduction projects, including the State Power Investment Corporation Limited and a research institute with the Ministry of Natural Resources, reached initiatives on project development and transaction compliance.

China aims to peak carbon dioxide emissions by 2030 and achieve carbon neutrality by 2060.