China launches national carbon trading exchange, part of efforts to reach 2060 carbon neutrality goal

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China launched its national carbon trading exchange, the largest in the world, with the first deal sealed at 7.9 million yuan ($1.2 million), as part of the country's effort to use a market-based mechanism to to achieve its carbon-neutrality goal.

The opening price of 48 yuan a tonne emissions. The first permit for 160,000 tonnes was transacted at 52.78 yuan a tonne, with the total trading volume reaching 7.9 million yuan, according to the state broadcaster CCTV, without specifying the buyers and sellers. The price closed at 51.23 . . .

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