The Mechanism And Practices Of Chinese Regional Carbon Trading Market

Global climate change is a major issue of common concern among the international community.To address global climate change issue,countries in the world are working together to reduce greenhouse gas emission.In the circumstance,carbon trading markets emerged and are gradually growing.The carbon emission in China accounts for a big proportion of the total carbon emission in the whole world,therefore,China is faced with significant pressure of reducing carbon emission.However,there were not mature policy and technical conditions of building a national carbon trading market in China,regional carbon trading market was carried out first.China now has started seven regional carbon trading market pilot.In this context,this paper firstly studies the theoretical basis of carbon trading market,namely economic Externality Theory,Coase Theorem,Emission Trading Theory.Secondly,the design of the carbon trading market and the development of the domestic and international situation are introduced.Finally,this paper chooses Guangdong carbon trading market as a case of China regional carbon trading market.By analyzing the operation performance and market maturity of the carbon trading market in Guangdong Province,the development achievements and existing problems are summarized.Finally,the paper puts forward some corresponding countermeasures and suggestions on the existing problems.