The Path Study On The Construction Of Chinese Carbon Emission Right Market

Current global climate change is affecting the sustainable development of social economy,In order to solve the problem of climate change,All the countries in the world carried out a series of negotiation.In 2005,The Kyoto Protocol force to promote global carbon market development.The Kyoto protocol for between countries on greenhouse gas emissions trading rights provided a new frame work,Make emissions of greenhouse gases such as commodity is right,have been fraught with out one kind of brand-new Greenhouse gas emissions trading market.China ranks the second in greenhouse gas emissions and is the biggest supplying country in (CERs) of the world level market.However,China lying at the bottom of the industry chain of carbon transaction,is only a participant in carbon market and a follower of the carbon market rules.The great reduce of emission created by China for the global carbon market was purchased by developed countries at low price,packaged and further developed into a finance product of higher price for transaction in overseas market. As one of the biggest supplying countries of the emission authority,China has no international carbon market comparable to those in Europe and America; therefore,China lost the pricing power in carbon transaction. This article specifically elaborates major transaction bodies,the types,quantity and the volume of transaction in the major international market of carbon transaction. Through analysis this article figures out the characteristics of the present international carbon market and accordingly makes a comparison between the international carbon market and the domestic market and works out the existing flaw of the domestic carbon market. Based on the above analysis,this Paper has done two empirical tests—Between energy consumption and economic growth in China,and as a basis for proposed China's construction and development path ofcarbon emissions trading market.China's carbon emissions trading market should be guided by the government earlier, after the market-led; first development of the underlying transaction, after the innovative derivative products; be based on the domestic market to international competition after the first and establishing the principle of an international mechanism under the framework of the voluntary reduction of domestic Establishing mandatory emission reduction market then the market eventually developed into an international carbon emissions trading market..