| Global climate warming is a major environmental issue that humanity is facing. Climate change as a global disaster has brought heavy losses to all countries and the inhibition of global warming needs all mankind to work together. International emission trading is an effective way to inhibit global warming. International emission trading mechanisms established by "Kyoto Protocol" which performed as an international carbon trading is the cooperation mechanism around the world to deal with global warming. But neither the content of "Kyoto Protocol" about the international emission trading mechanisms nor the implementation of international emission is satisfactory. China emitted the most carbon emission in developing countries, so the improvement of international emission trading mechanisms can not do without China's participation. To participate in international emission trading involves a country's economic and political interests, therefore analyzing the international emission trading mechanisms has theoretical and practical significance.This paper using research methods such as bibliography index, data analysis and internet research index described the theoretical basis for the international emission trading mechanism-- emission trading scheme, studied the status of international emission trading mechanisms, and explored the mechanisms for improving the international emission trading mechanisms. At the same time, this paper also discussed the pressures and the challenges of China's participation in international emission trading mechanisms.This paper has six parts.The first part is the introduction which described the significance and background of this topic.This part outlined significance of the topic, points out that global climate warming has been threatening human survival and international emission trading is an effective way to curb global warming.Not only reviews the relevant literature from the domestic and foreign scholars on the issue but also introduces the innovations and insufficiencies of this paper.The second part is the theoretical basis for international emission trading mechanism-emission trading theories.This section consists of three parts:the basic principle of emission trading, the regulation principle of emission trading, the characteristics of greenhouse gas and the classification of international emission trading. The part of the basic theory of emission trading sets out the basic principles of emission trading by introducing the definition, then notes that emission rights sufficiently use the resource allocation of market mechanisms and enable enterprises to become the real transaction of emission trading. It shows that emission rights are special commodities which own the same characteristic as property right.This part has introduced the regulation of emission trading through a model and introduces the advantages of emission trading. Emission trading can help governments do macro-control more effectively, promote technological progress, mitigate the contradiction between economic growth and environmental protection and encourage public to take part in environmental protection.GHGs(green house gases) can be applied to emission trading. International emission trading is mainly reflected in the "Kyoto Protocol" of "Framework Convention on Climate Change" which aimed at cutting greenhouse gases through the carbon trading mechanisms. The current international emission trading are broadly categorized as project-based trade and allowance-based trade.The third part analyzes the status quo of the international emission trading mechanisms.At the outset of this section shows that the international community's awareness of environmental issues is a gradual process. Any international mechanism based on mitigating climate change has to solve three questions such as "participant", "validity" and "compliance". Addressing these three problems can easily fall into the "trilemma" and International emission trading mechanism will surely face a "trilemma" dilemma.It then analyzes the status quo of an international emission trading mechanisms. As the world's first global warming curbing international convention, "United Nations Framework Convention on Climate Change" can only be a "framework. As supplementary treaty of the "United Nations Framework Convention on Climate Change", "Kyoto Protocol" specifies the type of reducing greenhouse gas emission for developed countries and identifies three kinds of flexible transaction mechanisms. But the "Kyoto Protocol" compliance mechanism is weak and insufficient to ensure the specified reduction of GHGs, furthermore the three mechanisms of the Kyoto international emission trading mechanism are defective.Because of the different opinions on sharing responsibility, there are three major interest groups:the umbrella group, the European Union and developing countries. National economic interests and political interests are main reasons of the difficulty of international emission trading mechanism.The fourth part introduces new ideas to improve the international emission trading mechanisms.Firstly put "common" as the cornerstone and use "fairness" as the basis for promoting the establishment of new mechanisms for international emission trading. Secondly promoting "green technology" transfer in the international community is also an effective way to mitigate climate warming. Thirdly, the establishment of regional emission trading market is a useful complement to the international emission trading mechanisms.The fifth part is the pressures and challenges of China's participation in international emission trading mechanisms.From the international perspective, China is facing increasing pressure to reduce emission. One reason is that developed countries ate unwilling to bear the historical responsibility and hope that through "mandatory emission reductions" to reduce the pace of China's economic development. On the other hand, the Chinese unit GDP energy consumption level and the total amount of greenhouse gas emission are indeed much higher than the world level over the same period.From the domestic perspective, China has to deal with the challenges of greenhouse gas emission. This is mainly because:China's energy consumption structure is irrational, the energy consumption heavily relies on fossil resources, especially coal; China's "green technology" development lags behind developed countries; China's industrial structure is not reasonable; Residents'consumption lacks environmental awareness.China should actively develop environmental diplomacy to defuse international pressure; make great efforts to develop low-carbon economy to cope with the challenges of domestic emission reduction; strengthen publicity and education; strive for the understanding of the international community to alleviate the international pressure on China's emission; improve people's environmental awareness.The last section is the conclusions of the article.The author concludes that the international emission trading mechanism is the product of reconciling interests of all countries.It can only develop in the twists and turns and China should promote the improvement of the international emission trading mechanisms.
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