China’s newly approved Guangzhou Futures Exchange likely to launch the country’s first carbon emission futures

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China's newly approved Guangzhou futures exchange is expected to pioneer green finance efforts by launching the country's first carbon emission futures contract.

The China Securities Regulatory Commission (CSRC) officially approved the establishment of the Guangzhou Futures Exchange, part of efforts to promote the development of Guangdong-Hong Kong-Macao Greater Bay Area and the pilot free trade zone in Guangdong, said the regulator on Friday.

"The exchange will focus on serving the real economy and green development, and will uphold an innovative, market-oriented and internationalized development position," the CSRC said.