196 million tons of carbon quota traded on Chinese market

The cumulative trading volume of carbon quotas on China's carbon market reached 196 million tons as of last Friday, with a cumulative turnover of 8.58 billion yuan($1.19 billion), an official said on Thursday.

The national carbon emissions trading market launched online trading in July 2011, has established a basic framework system and has effectively accelerated enterprise awareness of and ability in green low-carbon transformation, achieving expected goals, Li Gao, director of the department tackling climate change at the Ministry of Ecology and Environment, told a news conference.

Going forward, China will formulate relevant regulations on carbon emissions trading, crack down on fraudulent carbon emissions data, and expand industries involved into the carbon emissions trading market, Li said.

The Ministry of Ecology and Environment will also promote the establishment of a unified and regulatory carbon emissions statistics accounting system, Li added.

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