China: Hubei ETS to increase daily transactions by 12 times

22 July 2014 02:25 Source:ICIS

The Hubei emission trading system (ETS) plans to increase the daily allowance transactions to 0.5m-1.0m tonnes, a move to increase the liquidity in the local scheme, according to an official from the local emission exchange.

That means it needs to expand the daily allowance transactions by 12 times at least.

The daily transactions in the Hubei ETS averaged 37,551 tonnes last week, the highest among all the seven Chinese ETSs.

In order to reach the above target, the Hubei ETS is trying to invite as many individual investors as possible to join the local ETS.

“We’ve built the cooperation relationship with China Construction Bank (CCB). Individuals can join the local ETS via over 600 local branches of CCB,” said the official.

The Hubei ETS, which was launched on 2 April, allows individuals and institutional investors to participate in the local scheme and has been pushing for the establishment of the transaction channels.

“Around 1,000 individuals have joined the Hubei ETS so far, and we hope to expand the number to 50,000 individuals,” the official also said. Ling Ma

By Ling Ma