China’s Carbon Emissions Trading: Lessons from the Pilot Systems

This paper examines China’s seven carbon emissions trading pilot systems, which launched beginning in 2013 to inform the design of China’s upcoming nationwide carbon emissions trading system. It analyzes the seven pilots’ policy features and performance through a comprehensive review of prior studies, existing regulations, and empirical data. Finally, it highlights several lessons learned from the pilot systems and their ramifications for the implementation of the national carbon emissions trading system.