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China’s New National Carbon Market
Abstract
On December 19, 2017, China announced the official start of its national emissions trading system (ETS) construction program. When fully implemented, this program will more than double the volume of worldwide carbon dioxide emissions covered by either tax or tradable permit policy. Many of program's design features reflect those of China's pilot programs but differ from those of most emissions trading programs in the United States and Europe. This paper explains the context and design of China's new carbon market, discusses implications and possible modifications, and suggests topics for further research.
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China's national carbon market has adopted a rate-based approach with the number of allowances updated by firms' actual output.
“China’s national carbon market has adopted a rate-based approach with the number of allowances being updated by firms’ actual output42”
From Low-carbon innovation induced by emissions trading in China (2019) · cites this paper as [42]
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Metadata
- Authors
- Pizer, W. A., & Zhang, X.
- Affiliations
- Duke University (US)
- Tsinghua University (CN)
- Venue
- AEA Papers and Proceedings
- Publisher
- American Economic Association
- Published
- 2018-05-01
- Volume
- 108
- Pages
- 463-467
- ISSN
- 2574-0768 (ISSN-L)
- 2574-0776
- OpenAlex
- W2803776974
- Cited by
- 77
- References
- 4
- Citations by year
- 2026: 4 · 2025: 13 · 2024: 3 · 2023: 17 · 2022: 12 · 2021: 9 · 2020: 6 · 2019: 9 · 2018: 3
- FWCI
- 10.26
- Type
- journal article
- Language
- en
- Open access
- closed
- Locations
- AEA Papers and Proceedings (publishedVersion)
- RePEc: Research Papers in Economics (submittedVersion)
- Topics
- Social Sciences › Economics, Econometrics and Finance › Economics and Econometrics › Climate Change Policy and Economics
- Social Sciences › Economics, Econometrics and Finance › Economics and Econometrics › Energy, Environment, Economic Growth
- Physical Sciences › Energy › Renewable Energy, Sustainability and the Environment › Renewable energy and sustainable power systems
- Keywords
- national carbon market, emissions trading system, CO2 emissions, carbon pricing, carbon tax, tradable permits, climate policy, China
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