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China Plans National Carbon Market by 2016 Amid Emission Pledge

China, the world’s largest greenhouse gas emitter, plans to start a nationwide carbon market in the next two years following a pledge to cap emissions by 2030.

Opening in 2016, the market would have matured by 2020, Su Wei, an official at the climate change department under the National Development and Reform Commission, said today at a press conference in Beijing. China, which is working on an absolute control plan for carbon emissions, may announce rules for carbon-permit trading as early as the end of the year, Su said.