30 October 2017 – Chongqing is the latest pilot region to extend its emissions trading system (ETS) beyond the initially planned phase ending in 2016. The local Development and Reform Commission (DRC) asked the covered entities to report 2017 emissions by November 11, or else jeopardizing the free allocation of allowances for 2017.
The Chongqing market was launched in 2014 and covers approximately 110 million tonnes of CO₂. It is the only region that has not published its compliance data for 2016, which was due in June 2017.
Initially, all eight pilot ETS were scheduled to end after three compliance years in order to be replaced by the national ETS in 2016. However, as the start of the national ETS has been delayed to the end of 2017, the pilots will continue operating until then and also beyond.