The Chinese government is currently finalizing the scheme, which will be based on various regional pilot markets currently operating in the country, according to a Reuters press release.
The Chinese scheme, which will become the world's largest scheme once in operation, will cap CO2 emissions from sources such as electricity generators and manufacturers. Entities that emit in excess of their permitted allowance will be required to obtain permits to operate in the market.
Elsewhere in Asia, South Korea is due to launch its national scheme in January 2015, whilst Thailand, Vietnam and Indonesia are also working on plans of their own.
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