China regulates unified carbon trading

The State Council announced on February 4th the Provisional Regulations on the Management of Carbon Emission Rights Trading, which will come into effect on May 1st, 2024. As of the end of 2023, a total of 2257 power generation enterprises were included in the national carbon emission trading market, with a cumulative transaction volume of about 440 million tons and a transaction volume of about 24.9 billion yuan. Carbon emission trading products include carbon emission quotas and other approved spot trading products, which are traded through agreements, one-way bidding, and other means.

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