The Guangzhou-Hong
Kong-Macau Greater Bay Area Development Plan issued on Feb.18th indicates that cities in the Greater Bay Area will be taking different responsibilities
for the economic and financial development in the area. As one of the major
cities in the Bay Area, Guangzhou will be setting up an experimental zone for
studying emission trading as future goods.
The Development Plan also pointed out that low-carbon
and emission reduction are the two key objectives for Guangzhou to develop its Green
Finance Scheme. Guangzhou has started its own construction of Emission Exchange
since 2011. Through years Guangzhou has fulfilled multiple emission trading
while also began to research the feasibility of trading emission as future
goods. The Development Plan will accelerate the construction of emission
trading scheme at Guangzhou by securing crucial resources for the city.