China to Launch Carbon Emissions Trading Pilot Project

China will start a pilot carbon emissions trading project, and gradually set up a carbon emissions trading market, said Xie Zhenhua, vice minister in charge of the National Development and Reform Commission (NDRC), on Sunday at the 2011 Eco-Forum Global in Guiyang.

China would also accelerate building a standardized system for energy saving and environmental protection, and tighten regulation on identifying and labeling low-carbon products, Xie said

China was determined to straighten out prices of resource-based products, for example, further applying differential power pricing and punitive electricity tariffs, he added.

The government would provide more incentives to develop energy-conservation technologies and products, such as preferential taxation policies, according to Xie.

China would also continue to boost financial support for green energy and manage growth in energy-intensive industries, said the vice-minister.

The capacity of the eco-economy exceeded 1.6 trillion yuan ($231.9 billion) during the period of 11th Five-Year Plan (2006-2010), which created jobs for 28 million people, Xie said.

(Xinhua News Agency July 17, 2011)