China grows into world's second largest carbon trader

(MENAFN) According to data released, China has become the world's second largest carbon trading market after the European Union (EU), Xinhua reported. China's enterprises traded over USD3.85 million tons of carbon emission quotas, the deputy head of the Chinese National Development and Reform Commission said. The quotas were sold for USD20.2 million, pushing China to be a major carbon traded after the EU. It is noted that China started pilot carbon trading in 2011, approving seven trading schemes in Beijing, Tianjin, Shanghai, Chongqing, Shenzhen, Guangdong and Hubei.