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Shenzhen ETS allows foreign participation

22 Aug 2014, 11.59 am GMT

Shenzhen ETS allows foreign participation

London, 22 August (Argus) — The Shenzhen emissions trading scheme (ETS) in southern China's Guangdong province will allow foreign investors to start trading its carbon allowances, according to the Chinese State Administration of Foreign Exchange.

Foreign companies already comprise 56pc of all installation units covered by the Shenzhen ETS, while joint ventures between Chinese and non-Chinese companies account for 12pc.

The administration hopes that allowing external investors to participate will improve liquidity, help price discovery and encourage investment in low-carbon technologies.

The Shenzhen ETS, which started just over a year ago, is the first of China's seven pilot cap-and-trade schemes to grant permission in principle to foreign investors. But no date has yet been disclosed as to when foreign investors could enter the marketplace.

The regional emissions reduction schemes are seen as precursors to a nationwide ETS to be introduced by China's top economic planning body the NDRC in 2017. China's six other ETS pilots — in Beijing, Shanghai, Chongqing, Tianjin, Guangdong and Hubei — have not indicated whether they would consider similar moves before the national scheme is implemented.

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