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China urged to avoid excess carbon quotas

Operators of two local pilot carbon-trading programs in China are urging designers of a national trading scheme to avoid allocating more emissions quotas than the market needs in order to avoid some of the supply imbalances the European Union has experienced with its own program. China should "make it possible to take back carbon quotas in an economic downturn" to learn lessons from the European Union, said Zhou Cheng, vice-president at the China Beijing Environment Exchange.