China will anounce Friday that it will launch a national carbon emissions trading market in 2017 as part of the joint climate change statement with the United States meant to boost prospects for a global climate pact, U.S. officials said.
The policy announcements Chinese President Xi Jinping's meetings with U.S. President Barack Obama Friday. The two leaders are meeting amid tensions over alleged Chinese cyber spying, Beijing's economic policies and China's regional territorial disputes.
The market will cover key sectors including power generation, iron and steel, chemicals and cement. It will be designed based on what was learned from the seven regional pilot exchanges that are in operation in China.
