Factors affecting the pilot trading market of carbon emissions in China

Climate change and carbon emissions are major problems which are attracting worldwide attention. China has had its pilot carbon emission trading markets in seven regions for more than 3 years. What affects carbon emission trading market in China is a big question. More attention is paid to how China promotes the carbon emission trading schemes in the whole country. This paper addresses concerns about the functioning of carbon emission trading schemes in seven pilot regions and takes the weekly data from November 25, 2013, to March 19, 2017. We employ a vector autoregressive model to study how coal price, oil price and stock index have affected the carbon price in China. The results indicate that carbon price is mainly affected by its own historical price; coal price and stock index have negative effects on carbon price, while oil price has a negative effect on carbon price during the first 3 weeks and then has a positive effect on carbon price. More regulatory attention and economic measures are needed to improve market efficiency, and the mechanisms of carbon emission trading schemes should be improved.

Consideration of some key issues of carbon market development in China

The global carbon market has developed rapidly with two significant trends of globalization and financialization.Deriving economic interest is a nation driven-force behind the international climate negotiation and carbon market.According to deeply analyzed relationships between the carbon market and the key subjects of the climate negotiation,this article reveals that promoting the development of the global carbon market is one of the core interests of developed nations.Based on the background of international carbon market development and domestic carbon market pilots,four suggestions to the key issues of China's carbon market are provided.The first is that the goal of China's carbon market should be in line with and contribute to the national objectives and policies addressing climate change.The second is that the Chinese carbon market should mainly target the emission reduction of production-sectors,and contribute to their upgradation and transformation.The third is mat the development of the nation-wide carbon market in China should first take the principle of unbalanced regional development into consideration.The fourth is that linking China's carbon market to the international market should keep steps in line with international opening-up of China's financing system.

Exploration of Market Mechanism on Controlling Air Pollution and Carbon Emissions in China

Based on increasingly grim situation of carbon emissions in China,air pollution control and carbon emission reduction are very important. Therefore,combining with China’s specific national conditions,we should explore the market mechanisms to control air pollution and reduce carbon emissions in China. The achievement of the carbon emission reduction purpose needs to establish the carbon trade market based on intensity emission reduction and suitable for China’s national conditions. By setting the cross-industry,cross-region and cross-time carbon trade scenarios in China,this paper tries to study the market mechanism of carbon intensity trade among industries and regions and based on carbon finance mechanism.

The impact analysis of policy events on China's carbon market

This paper interrogates the impact of policy events on the efficiency of carbon market in China.The analysis covers five piloting emission trading schemes(Beijing, Shanghai, Guangdong,Shenzhen and Hubei), particularly focusing on Guangdong pilot for its weak form efficiency and the richness of policy events. Twenty-five policy events between 2014 and 2016 are categorized into seven groups. The efficiency test indicates that only Guangdong ETS has reached weak form efficiency. After exploring the policy events occurred in Guangdong ETS, it finds that although a clear long-term climate policy has been set up over the country, China's carbon market still has a conservative risk appetite and its governing institutions still needs further development. The policy makers need to be aware of and avoid the negative impacts of policy events to the market evolvement, by introducing effective consultancy process with the stakeholders and nurturing market expectations in the long run. We also find that events like allowance auctions have considerably less impacts than previously expected and argue that auction approach should be considered a preferable option over a free allocation system in the future policy design.

Study on Development Status of China Carbon Finance Market,International Experience and Countermeasures

With continuous enhancement of commodity attribute of carbon dioxide emission right and day-by-day maturity of market,trading scales of spot and futures surrounding " carbon emission" which is emerging valuable commodity are getting larger. The development and perfection of carbon finance market has become an important realistic subject under low-carbon economy background. China's carbon finance market is still immature,and lacks the relevant law and government supports and mature intermediary agency; the construction of carbon trading platform is imperfect; it lacks carbon finance products and understanding on carbon finance. To better develop China's carbon finance market,development statuses of carbon finance markets at home and abroad are contrasted from three aspects: legal environment of carbon finance,trading condition of carbon finance and carbon finance business of financial institution,and their difference is analyzed. By referring to foreign development experience,the relevant policy measures of promoting and perfecting carbon finance market in China are proposed.

Valuation of forest carbon sinks in China within the framework of the system of national accounts

To better promote forest resource management and strengthen the development of forest carbon sink marketization, this paper studied the accounting of forest carbon sinks from 2003 to 2008 based on a system of national accounts （SNA） and data from the latest forest resources inventory in China. The study calculated the value of forest carbon stocks at a total of RMB 817.13 × 10^9 yuan in 2003 and RMB 839.93×10^9 yuan in 2008, with an average annual increase of 0.55 % from an increase in physical carbon sinks. The total value of forest carbon sinks in 2003 and 2008 was RMB 26.73×10^9 yuan and RMB 29.77×10^9 yuan, respectively, with an average annual growth of 2.18 %. From 2003 to 2008, both stock and flow value of forest carbon sinks increased, but the total net flow value of carbon sinks decreased. The growth rate for the environmentally adjusted Gross Domestic Product （eaGDP） for China＇s forest carbon sinks was 17.23 %, outstripping the average growth rate of 9.5 % for the GDP during the same period. The study alsoindicates that China＇s forest carbon sinks affects the GDP in the range of 0.25-0.26 %, and its economic potential is not relatively huge.

Technology strategies to achieve carbon peak and carbon neutrality for China's metal mines

Greenhouse gas(GHG)emissions related to human activities have significantly caused climate change since the Industrial Revolution.China aims to achieve its carbon emission peak before 2030 and carbon neutrality before 2060.Accordingly,this paper reviews and discusses technical strategies to achieve the“dual carbon”targets in China’s metal mines.First,global carbon emissions and emission intensities from metal mining industries are analyzed.The metal mining status and carbon emissions in China are then examined.Furthermore,advanced technologies for carbon mitigation and carbon sequestration in metal mines are reviewed.Finally,a technical roadmap for achieving carbon neutrality in China’s metal mines is proposed.Findings show that some international mining giants have already achieved their carbon reduction targets and planned to achieve carbon neutrality by 2050.Moreover,improving mining efficiency by developing advanced technologies and replacing fossil fuel with renewable energy are two key approaches in reducing GHG emissions.Green mines can significantly benefit from the carbon neutrality process for metal mines through the carbon absorption of reclamation vegetations.Geothermal energy extraction from operating and abandoned metal mines is a promising technology for providing clean energy and contributing to the carbon neutrality target of China’s metal mines.Carbon sequestration in mine backfills and tailings through mineral carbonation has the potential to permanently and safely store carbon dioxide,which can eventually make the metal mining industry carbon neutral or even carbon negative.

Assessing the maturity of China's seven carbon trading pilots

Indicators based on the developed version of the Capability Maturity Model were set up to access the maturity degree of China's seven pilot carbon markets from 2013 to 2017. Results show that the maturity degree of Shenzhen and Beijing pilot carbon markets ranks first;while those of Guangdong, Hubei, and Shanghai rank second. Tianjin and Chongqing rank lowest. Most of pilot markets failed to perform well on price efficiency except Shenzhen. There is significant disparity in the scores that the pilot carbon markets got, with a range from 9 to 73. The drivers to maintain market maturity is different among the pilot markets, either with a good performance on market structure, scale, or efficiency could lead to a certain score. Much could be done to increase the maturity level of the carbon market. Further downscaling the firm size, raising the legislation level, and increasing the participation of the third party entities may help the carbon market to grow healthier.

Temporal and spatial variability of the carbon cycle in the east of China's seas:a three-dimensional physical-biogeochemical modeling study

In the east of China＇s seas, there is a wide range of the continental shelf. The nutrient cycle and the carbon cycle in the east of China＇s seas exhibit a strong variability on seasonal to decadal time scales. On the basis of a regional ocean modeling system（ROMS）, a three dimensional physical-biogeochemical model including the carbon cycle with the resolution（1/12）°×（1/12）° is established to investigate the physical variations, ecosystem responses and carbon cycle consequences in the east of China＇s seas. The ROMS-Nutrient Phytoplankton Zooplankton Detritus（NPZD） model is driven by daily air-sea fluxes（wind stress, long wave radiation, short wave radiation, sensible heat and latent heat, freshwater fluxes） that derived from the National Centers for Environmental Prediction（NCEP） reanalysis2 from 1982 to 2005. The coupled model is capable of reproducing the observed seasonal variation characteristics over the same period in the East China Sea. The integrated air-sea CO_2 flux over the entire east of China＇s seas reveals a strong seasonal cycle, functioning as a source of CO_2 to the atmosphere from June to October, while serving as a sink of CO_2 to the atmosphere in the other months. The 24 a mean value of airsea CO_2 flux over the entire east of China＇s seas is about 1.06 mol/（m^2·a）, which is equivalent to a regional total of3.22 Mt/a, indicating that in the east of China＇s seas there is a sink of CO_2 to the atmosphere. The partial pressure of carbon dioxide in sea water in the east of China＇s seas has an increasing rate of 1.15 μatm/a（1μtm/a=0.101 325Pa）, but p H in sea water has an opposite tendency, which decreases with a rate of 0.001 3 a^（–1） from 1982 to 2005.Biological activity is a dominant factor that controls the pCO_2 air in the east of China＇s seas, and followed by a temperature. The inverse relationship between the interannual variability of air-sea CO_2 flux averaged from the domain area and Ni？o3 SST Index indicates that the carbon cycle in the east of China＇s seas has a high correlation with El Ni？o-Southern Oscillation（ENSO）.

For CO<SUB>2</SUB>Emission Trading in China, Can the Market Become a National One, Four Years after Creating Seven Local Markets?

In this paper, we assess the existing seven local pilot carbon emission trading schemes in China and analyse the factors determining whether China’s carbon market is successful in terms of handling substantial amounts of CO2 emissions rights, regulating the market and trading them at a reasonable price. The emission trading system is developing slowly in most of the participating provinces and cities. Prices tend to decline, while volumes trading slowly increase. The volatility is partially the result of regulation (the rights need to be renewed before a certain date) and partially due to government interventions in the market. Based on the assessment, recommendations are provided for China implementing a national carbon market, based on the experiences and lessons learnt from the seven local carbon emission trading schemes. Conditions for China to roll out the system and later improve the national emission trading scheme to replace the existing local emission trading schemes are formulated.

Booming Demand in China’s Second-hand Market——2018 Development Report for China Second-hand E-businesses

On June 3rd,JD.com announced that Paipai,its second-hand commodity trade platform,was strategically merged with Aihuishou(Love Recycling)which is one of the largest electronics recycling platforms in China.Recently,the Ecommerce Research Centre of 100ec.cn released the2018 Development Report for China Second-hand E-businesses(hereinafter referred to as the Report),which indicated that as of the end of 2017.

New Momentum in China’s Import Consumption Market——China Chamber of International Commerce,Deloitte China and Ali Research Jointly Release China Import Consumption Market Report

Stimulated by the continuous opening-up strategy and strong domestic demand,China s consumption market has become an important growth pole for the global market.China’s import consumption market has ushered in innovation driven by technology,and new import models represented by cross-border e-commerce have strengthened ties between China and other countries around the world.

Global Mobile Market Situations and China Telecom's Strategy to Enter Mobile Market

The article briefly introduces the situation of the global mobile communications market,and based on the development status quo of China's mobile communications market,studies the strategy for China Telecom to enter the mobile market,mainly focusing on mo- bile technologies selection,differentiable services,regional strate- gies and price policies.

全国市场VS区域市场:碳市场有效性的差异、成因及其对策

对碳市场有效性进行测度、把握碳市场运行效率,有利于进一步推动碳交易机制优化和效率提升。本文以全国碳排放权交易市场及8个区域试点碳市场为研究对象,以2021年7月16日至2023年6月16日碳配额成交均价为样本,运用结构突变检验法与重标极差分析法对各个碳市场整体与阶段运行效率进行测度。研究结果表明:全国碳市场整体运行效率偏低,仅第一阶段达到了弱式有效水平;在区域试点碳市场中北京碳市场达到弱式有效,若考虑结构突变点时,则上海、广东、湖北、深圳和重庆碳市场达到阶段性弱式有效。在此基础上,进一步剖析了全国碳市场有效性较低的影响因素,并有针对性地提出对策建议。

China's Refrigerator Market

China’s refrigerator industry developed at a rapid pace in the 1980s when the purchase of household electrical appliances was progressing the country. More than half of the refrigerator enterprises disappeared from the market in ten years of bitter competition. However, seven brands of refrigerators——Changling, Shangling, Rongsheng, Qindao, Meiling, Zhongyi and Shuanglu——have captured 90% of the market with their high quality products, after-sales service, new product development and financial viability. Between 1955 and 1977,

China's Steel Market

1. Exuberant supply and demand dominated the first half of 1993, but levelled out in the second half. In 1993, China’s steel production had sustained growth, with an output of 88.68 million tons of steel, 9.56 percent increase over 1992, and 76 million tons of steel products, 13.58 percent up on the

CHINA'S Rubber INDUSTRY AND MARKET

As an importantcomponent of thechemical industry,the rubberindustry serves varioussectors of the nationaleconomy.Thanks to China’sreform and economicopening,and increasinglyexpanded domestic marketsand exports,the rubberindustry has achievedsustained,steady and healthygrowth in production andtechnical research.

Motorola—A Great Success in China's Market

In 1994, Motorola (China) Electronics Co. Ltd. injected a further US$120 million of investment in its Tianjin Factory to enforce and expand its rear procedure for semiconductor production, and establish a devices and components division and power source Components division. In August of the same year, the company offered another US$ 200 million to purchase land for new factories, to set up a front procedure for the production line for semiconductors, to produce double-way radio equipment. In October,its Shanghai division was established. It has been disclosed that before 2000,

China's Aviation Market

In the excellent situation of reform, opening to the outside world, development and stability, the China civil aviation transport industry, which plays a leading role in the development of the national economy, is developing steadily. Its speed of development ranks first in the world and is the focus of world attention. In 1994, China’s total air freight turnover reached 5.84 billion tons/km, an increase of 14 times compared with that of 1980,