The use of market-based mechanisms is a cost-effective way to reduce carbon emissions. The present paper reviews the global carbon market, focusing mainly on its structure and price features, and analyzes the role of China in the global carbon market. China is playing a leading role in the...

China is facing increasing pressure from the international community to curb its greenhouse emissions. The next 15-20 years are important for China's social and economic development, but this is also a key period for controlling global greenhouse gas emissions. In considering the development...