Region division of China's carbon market based on the provincial/municipal carbon intensity

China’s Carbon Market Development and Carbon Market Connection: A Literature Review

“…At present, the carbon quota trading prices of the eight carbon trading pilot-projects in China are quite different [28], showing a trend of drastic fluctuation and decline (see Figure 1). The pilot trading prices of the pilot projects are concentrated mostly within the price range of 10-50 yuan; Beijing and Shenzhen have relatively high transaction prices, Chongqing has the lowest transaction price, the pilot trading prices of Shenzhen and Guangdong fluctuate considerably, the pilot trading price of Hubei shows the most stable trend, and the future trend of carbon quota transaction prices in various pilot areas is unclear [18,46].…”

“…By contrast, EU and the US accounts for 10.6% and 15.2% of the world's carbon emissions, respectively. Based on its standpoint of being responsible for reducing its domestic and global carbon emissions, China has set a scholars believe that China should seize this opportunity to renovate and upgrade domestic backward production capacity, ease the bottleneck constraints of the ecological environment on economic and social development, and reduce carbon emissions fundamentally [28,29]. However, the carbon market will be affected not only by market dynamics but also by the changing external environment, such as international climate negotiations, national quota allocation plans, and financial crises.…”

“…Considering the uneven regional development and imbalance of industrial structures, the 8 pilots were selected purposely in eastern, central, and western parts of China with different economic development and geographical locations. This was done so as to adapt to the phased and regional emission reduction targets, to prevent the release of partial policies when initiating the national carbon trading market, and to avoid neglecting differences in economic, social, energy, and environmental aspects of China's provinces and cities [28,38,39]. In addition, with China's power industry being taken as a breakthrough in launching the national carbon emission trading market at the end of 2017, all these efforts highlight the determination of the Chinese government in engaging in global climate governance and achieving emission reduction targets via market means [4,39].…”

An Optimal CO<sub>2</sub> Saving Dispatch Model for Wholesale Electricity Market Concerning Emissions Trade

“…The primary goal of power industry is to supply electricity to meet the demand for national economy development [22]. Elmaghraby [23] and Song et al [24] also hold that a successful wholesale market design has a feature of all loads being dispatched. iii.…”

Market Design for CO<sub>2</sub> Abatement in Coal-fired Power Industry Based on Combinatorial Auction

“…The primary goal of power industry is to supply electric energy to meet the requirement of national economy development [4,9]. Elmaghraby [32] and Song et al [33] also suggest that a critical component to a successful market design in power industry is the way in which load demand is satisfied.…”