In the condition of market economy, more and more countries are going to mobilize market subject's positivity to deal with environmental problems through establishing economic incentive system. Being one kind of legal environmental economic means, the system of emission rights trading has been popular in developed countries, and is being tried in some districts in our country. This essay , through analyzing the legal characters of emission rights and emission rights trading, probes into the theoretical basis, functions and necessity of emission rights trading, demonstrates the feasibility of establishing it based on the system of total amount control and the system of emission license, and brings forward opinions about its law construction and legislation mode. All of these are hoped to be helpful for establishing the system of emission rights trading.
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