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China to Launch National Pollution-Trading System to Cut Emissions

  • Joint announcement intended to push forward UN climate talks
  • Market to cover power, iron, steel, cement industries
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Will a Cap-and-Trade Agreement Slow China's Economy?

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China will start a national pollution-trading system to cut global warming emissions, and make a 20 billion yuan ($3.1 billion) commitment to help poorer countries move away from fossil fuels.

China also is announcing changes intended to favor electricity produced by sources that will pollute less, according to a joint statement between the U.S. and China issued Friday to coincide with Chinese President Xi Jinping’s state visit to the White House.