China to launch carbon emissions trading pilot project

GUIYANG - China will start a pilot carbon emissions trading project, and gradually set up a carbon emissions trading market, said a top climate change official at a major international conference on Sunday.

Speaking at the Eco-Forum Global (EFG) 2011 in Guiyang, capital of Southwest China's Guizhou province, Xie Zhenhua, vice-minister of the National Development and Reform Commission (NDRC), the country's top economic planner, said China would also speed up the establishment of a standardized system for energy saving and environmental protection, and tighten regulations on identifying and labeling low-carbon products.

For example, China was determined to straighten out prices of resource-based products, further applying differential power pricing and punitive electricity tariffs, he added.