Details of carbon emission trading system unveiled

With just days to go until the expected launch of China's carbon emission trading system, further details have been released on how the much-anticipated system will work, and these reveal the prospect of a market that will be a major engine driving the nation's green transformation as predicted by financial industry experts.

The Shanghai Environment and Energy Exchange will be responsible for opening accounts and the operation of the national carbon emission trading system, according to an announcement it released late on Tuesday night.

Tian Lihui, director of the Institute of Finance and Development at Nankai University in Tianjin, said that the carbon trading system will become an important milestone of China's green development and help to form new financial markets.