China Trades 80% of the Global Issued CERs       

Data from China CDM Fund Management Center showed that, in 2008, the total certified emission reductions (CERs) of the Chinese CDM projects that got issuance from the CDM Executive Board (CDM EB) was 74.2 million tons of equivalent carbon dioxide, 53.8% of the total CERs issued in the world. As of December 31st, 2008 the total CERs of the Chinese CDM projects that got issuance from the CDM EB was 99.99 million tons of equivalent carbon dioxide, 41.6% of the total CERs issued in the world. As of August 27th, 2009 the number of the issued CDM projects in the world were 1788, 34.84% of which were in China.
    In 2008, the overall trading volume of issued CERs that generated the Chinese CDM projects accounted 84% of the world's total.
    At present, China possesses seven environmental exchanges, which effectively promote carbon trading in China. Beijing Environmental Exchange and Shanghai Environment Energy Exchange were both set up in August 2008, and Tianjin Environmental Exchange was established in late September of 2008. Since then, Wuhan, Changsha and Shenzhen established their own environmental exchanges in succession. The latest one is Kunming Environmental Exchange which was built on August 16th, 2009.
   In late July 2009, CNOOC signed with Macquarie Bank of Australia on a CDM project for comprehensively using the waste heat that generated in its 400 000 t/a calcined coke project. It was the first CDM project in petrochemical field that CNOOC signed with foreign buyer.