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CHINA'S CARBON EMISSION TRADING SYSTEM: PAST, PRESENT, AND FUTURE1CHINA'S CARBON EMISSION TRADING SYSTEM: PAST, PRESENT, AND FUTURE2025.072025CHINA'S CARBON EMISSION TRADING SYSTEM: PAST, PRESENT AND FUTURE2EDFContentsABSTRACT i1. OVERVIEW OF CHINA'S CARBON EMISSION TRADING SYSTEM 11.1. Background 11.2. Development of China's Carbon Emission Trading System 22. FEATURES OF CHINA'S NATIONAL CARBON EMISSION TRADING SYSTEM 92.1. Institutional Framework for the National Carbon Emission Trading System 112.2. Key Policy Design for the National Carbon Emission Trading System 122.2.1. Coverage 122.2.2. Cap Setting 142.2.3. Allowance Allocation 162.2.4. Monitoring, Reporting, and Verification (MRV) 192.2.5. Offsetting 212.2.6. Trading 232.2.7. Compliance and Oversight 252.3. Key Infrastructure for the National Carbon Emission Trading System 262.3.1. National Carbon Trading Market Management Platform 262.3.2. National Carbon Emissions Registration System 272.3.3. National Carbon Emissions Trading System 273. OVERVIEW OF REGIONAL CARBON EMISSION TRADING SYSTEMS 293.1. Development of Regional Carbon Emission Trading Systems 293.2. Experience of Regional Carbon Emission Trading Systems 293.2.1. Establish and Improve a Robust MRV System 303.2.2. Choose Appropriate Coverage 303.2.3. Intensity-Based Allocation Approach and Allowance Management Policies 314. PROSPECTS FOR THE DEVELOPMENT OF THE NATIONAL CARBON EMISSION TRADING SYSTEM 335. APPENDIX 355.1. Major Policy Documents of China's National Carbon Emission Trading System (2020–present) 355.2. China's GHG Voluntary Emission Reduction Program (CCER Program) Fact Sheet 366. REFERENCES 38CHINA'S CARBON EMISSION TRADING SYSTEM: PAST, PRESENT, AND FUTUREAbstractChina's carbon emission trading system is a key ma...