Carbon-trading system key to shifting nation's energy focus

China's soon-to-be launched national emissions trading system will help the country achieve its carbon emission goals earlier than 2030, but it may take some time for the system to become "fully functional".

The nationwide trading system, which is expected to be rolled out by the end of this year, will serve as a key driver to help China achieve its carbon reduction pledges in the Paris Agreement earlier than expected, according to the 2017 China Carbon Pricing Survey published on Wednesday.

"As the world looks to China for leadership on climate change, the strong and consistent efforts to introduce carbon pricing nationwide provide hope that carbon emissions can peak and be brought down quickly," said Dimitri de Boer, leading author of the report.