After trialing one back in 2011, China will introduce an emissions trading scheme to reduce greenhouse gas emissions:
President Xi Jinping of China will make a landmark commitment on Friday to start a national program in 2017 that will limit and put a price on greenhouse gas emissions, Obama administration officials said on Thursday.
The move to create a so-called cap-and-trade system would be a substantial step by the world’s largest polluter to reduce emissions from major industries, including steel, cement, paper and electric power.
Hopefully they'll do a better job of it than we did. Not having free credits for pollution would help immensely.
