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18-01-2018

Implementation of national emissions trading scheme in 2017 have been announced by China in a joint statement with the US. The two countries are the two biggest polluters on the planet have agreed to improve their carbon emissions in the future to improve the quality of air and environment. In its new National Emissions Scheme 2017 China has announced that it will take necessary steps to encourage more power generation from renewables to cut emissions. Being one of the biggest polluters in the world China has set itself an ambitious emission reduction goal which will require proper monitoring, reporting and verification in order to be successful. With the first pilot trading system set up in the year 2011 China at present has pilot trading system in seven big cities of the country. The most crucial and important role will be played by these pilot trading systems and the challenge would be to bring them together. Let us discuss about the trading schemes that will help the country to achieve its ambitious emission reduction goal.

            The use of renewables to generate power is one of the biggest steps that the country has taken in recent years to reduce its emissions. With the announcement of peak performance by the power generating companies in the country by using least polluting and efficient sources of renewables would help the country to achieve its objective. The country has invested huge amount of funds to grow its solar and wind power capacity. The target of the country is to achieve 15% of its energy requirements from non-fossils fuel by the end of 2020 and at-least 20% of its power requirement by the end 2025. With its ever growing use of solar and wind power capacity over the years it is very much possible for the country to achieve its goals of power generation by the deadline. This will immensely reduce the emissions of the country and will play a huge part in ensuring the successful achievement of its ambitious emission reduction goal.

In order to reduce the impact of trading operations on the environment and the society the country has made specific plans to award the best performers who will make use of least polluting and efficient operating techniques to reduce their emissions and carbon footprints. Recycling and renewables both have important roles in the overall development and improvement of the emissions and carbon footprint of the country. The huge population of the country has a huge demand when it comes to utilization of power and energy. By making it clear that the country is looking to make optimum utilization of renewables to generate more power it is clear that the ambitious goal of aching reduction in carbon emissions will very much be dependent on the ability of the country to successfully achieve its power generation goals.

            However, the country has experienced numerous problems while implementing the scheme to reduce the emissions. The main problems have been the ever growing power and energy needs of the country. The country has certainly achieved its goals of utilizing the renewables for generation of power however, the ever growing needs of energy and power have made it compulsory for the country to keep on generate huge amount of power. This has certainly been counterproductive to the overall goal of achieving reduction in carbon emission. Apart from that the modern day capitalist economy has played its part as the corporations and companies instead of looking to reduce the carbon emission by using efficient and least polluting methods have opted for profit oriented methods of business operations. Also changing the traditional beliefs have proved to be one of the most difficult aspect of implementing the scheme to achieve the ambitious emission reduction target

In order to attract foreign investments the People’s Republic of China in its 13thFive-year plan have stated that it will make necessary changes in the existing laws and regulations to unify the laws and regulations for domestic and foreign capital. In addition to that, the country has also promised to improve the national security review system for foreign investment. It is important for the standing committee to make necessary changes in the existing laws to attract the foreign investors to invest in the country. The investors mainly look for stable economic and financial conditions to invest their funds. The return on investment has always been the main factor that has tied the investors’ decision in favor of a particular economy as against other economies. By easing, the existing terms and conditions for investment in the country China will be able to attract numerous foreign investors due to the immense size of its economy. Foreign investors would look for security to their funds and by improving the national security on the investors’ fund attracting foreign investment will be quite easy for the country. Considering the size and shape of its economy the People’s Republic of China will not have huge difficulty in attracting foreign investors to the country. All that the country needs to do is to make necessary modifications and changes in the existing legislations to enhance the security of the foreign investors. The fact that the country has decided to provide a level playing field to both the domestic and foreign investors in its 13thfive-year plan will certainly motivate foreign investors to make necessary investments in the country.

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As per Section 1 of the Thirteenth year plan describes about China’s two key objectives that will be accomplished if the National People’s Congress or the standing committee of this party passes the law. The thirteenth five-year plan’s objective can be achieved by creating a good and strong market that functions on a foundation of true and fair contest. The government must be created on foundation of being functioning efficiently and cleanly, legislations and policies that are marked by transparent way and presence of no corruption.

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