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China Launches Its First National Emissions Trading Scheme: A Step Toward Green Transition

The Significance of China's Emissions Trading Scheme

China, as the world's largest emitter of greenhouse gases, has taken a pivotal step in its climate policy by launching its first national emissions trading scheme (ETS). This initiative has garnered global attention because it signals China's commitment to embedding market mechanisms into its environmental strategies. Carbon trading involves buying and selling credits that permit entities to emit a certain amount of carbon dioxide, effectively creating a financial incentive to reduce emissions.