Part 2/10:
The nascent phase of China's ETS saw the initial trading price close at just under eight US dollars, with the spot allowance contract closing later at approximately 8.80 USD. While relatively modest compared to the European Union's carbon price—hovering near 59 USD per ton—these initial figures mark a significant beginning. However, questions remain about whether this price level will be sufficient to drive substantial reductions in China's vast emissions.