Feasibility Research And Framework Design On China's Carbon Trading Market

China is the world's most populous country, economic development is still in its infancy. In the pursuit of economic development, the process is often accompanied by environmental disturbance. In order to shake off poverty as soon as possible, China seems to be more inclined to develop their own predatory environment of limited resources, makes the problem of environmental pollution is much more serious than in most developed countries. Faced with increasingly serious environmental problems, people are rethinking development costs and to find a treatment and the restoration of the human condition method. Carbon-trading negotiations have a bearing on national economic development, a national negotiation important strategic issues.Select this article "China's carbon trading market researche" as a theme, through the theoretical and empirical approach to the China's carbon trading systems and mechanisms for a more comprehensive in-depth analysis and research, has a very important theoretical and practical significance. The main study results include:(1) Analysis and research carbon trading status in our contry,point out problem in carbon trading,incude carbon trading experience of foreign,and put forward recommendations.(2) Propose design framework on the establishment of china's carbon trading market from the administrative and economic prospective,and introduction the success of carbon trading experience of foreign to china's carbon market framework. From the administrative point of view,china shoule recognize the legitimacy of emissions,improve the control of the legislation,establish emissions allocation system in line with our national conditions,build an emissions permit system,as well as transaction monitoring and certification system.From economic point of view,the development of our contry shoule be divied into three stages,the initial(2010-2012),the transition period(2013-2020),mature(after 2020).(3) Proposed the establishment of the construction of carbon futures exchange ideas, elaborate from carbon futures's significant, condition, trading products design, futures contracts. Choose Beijing as the location of carbon futures exchanges; selected as CER futures variety, in both futures contracts are designed to learn from foreign experience in the design of futures contracts, but also take into account our actual transactions.the same time, learn from the Shanghai Futures Exchange, develop out carbon futures exchange rules and processes, development of China-related content of carbon futures.(4)Make a theoretical analysis on Futures market for carbon trading function and research on the Chicago futures market of futures and spot CFI products the use of econometric time series unit root test and co-integration test, on this basis to study the CFI Futures Market the price discovery function and hedge ratios and performance.