China to Build International Carbon Emissions Trading Platforms Under Administrative Intervention

A view of the 100-megawatt molten salt solar thermal power plant in Dunhuang in China's northwestern Gansu Province, on Sept. 2, 2018. AFP via Getty Images

After operating a national-level carbon emissions trading platform for two months, the Chinese Communist Party (CCP) is attempting to set up an international platform, targeting foreign investors, to underpin a trillion-dollar carbon emissions permit exchange in two southern economic zones—Guangdong-Hong Kong-Macau Greater Bay Area and Hainan Free Trade Zone.

However, the national platform has failed to function effectively since its launch on July 16 due to pricing issues.