China to launch national ETS on July 16 -Shanghai exchange - Reuters

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Birds fly over a closed steel factory where chimneys of another working factory are seen in background, in Tangshan, Hebei province, China, February 27, 2016. REUTERS/Kim Kyung-Hoon

BEIJING, July 15 (Reuters) - China's long-awaited national carbon emissions trading scheme (ETS) will go live on July 16, said the Shanghai Environment and Energy Exchange in a statement on Thursday.

The scheme, the world's largest, is part of China's plan to make use of market mechanisms to help bring its carbon emissions to a peak before 2030 and to net zero by 2060. read more

The Shanghai exchange said it would manage the ETS's trading platform.

Reuters reported that China's environment ministry plans to hold a launch ceremony on Friday. read more

Some 2,225 power plants, responsible for over 4 billion tonnes of carbon dioxide emission per year, will be included into the first phase trading. read more

The national ETS initially set daily trading limits at 10% of prices and limits for block deal will be set at 30% of price moves. read more

Trade would take place at 9:30-11:30 a.m. and 13:00-15:00 p.m. on working days.

Reporting by Muyu Xu and Shivani Singh; editing by Kevin Liffey and Jason Neely

Our Standards: The Thomson Reuters Trust Principles.

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