China will include an emissions trading plan in its next five year plan from 2011-2015, Reuters reported, citing the Ministry of the Environment. The government has already implemented small scale plans to reduce sulfur dioxode and other pollutants using market mechanisms. Up until now has been reluctant to add greenhouse gases, including carbon dioxide, to the list of those pollutants that can be controlled and traded. Though the details of the plan are still unclear, carbon traders are already hoping to get a foothold in what could be a lucrative market. The Chicago Climate Exchange will set up a Chinese emissions exchange, but has not yet released details as to how much it will invest or when trading will start.
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