July 7, 2019 – The contract to build the software for China’s ETS has been awarded to the electronics company Hang Seng.
The company successfully bid to complete the software for the trading system by the second half of 2020. In return, the company will receive 17 million Yuan (2,2 million Euro). The tender was issued by the Shanghai Energy and Environment Exchange, which is responsible for developing and operating the trading platform of the ETS.
In preparation of the full launch of the ETS in 2020, the MEE has ordered provincial and regional governments to open registry accounts for their respective power companies by July 19, 2019.
Throughout this year, China will launch a test run of the ETS to gain experiences from trade simulations and compliance procedures. Next year, around 1,700 power companies with a total emission volume of around 3,5 billion tonnes of CO2 are expected to be covered by China’s national ETS. Between 2021-2025, the ETS is expected to grow by including additional industrial sectors.