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Climate Change

Coal-reliant China wades into nationwide carbon trading

Beijing aims to fight climate change but wary of choking economy

China's power industry emits 4 billion tons of greenhouse gases a year.   © Kyodo

BEIJING -- China cautiously took its carbon-trading scheme national Monday, a key component of its plan to slash greenhouse gas emissions by midcentury. But critics note that the pricing and penalties are too low to make much of a difference, at least initially.

Emissions caps are assigned to companies. Companies that exceed their quotas must buy credits from companies that do not. The aim is to encourage corporate China to make green investments to reduce carbon dioxide emissions.

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