23 October 2017 – According to a statement from the Tianjin Climate Exchange, the first carbon allowances auction will be held at the bourse beginning of November. It will host five auction rounds between 1 – 3 November, auctioning a total of 12,944 allowances. The first auction will offer 1,000 allowances for a set price of 15 RMB each, while the remaining allowances will be auctioned for a set price of 12.5 RMB each. In the case of weak participation of less than two bidders, the auction can be closed or postponed.
Tianjin was the second last pilot ETS to be launched end of 2013 and has been the least active market, partly due to heavy over-allocation of allowances. In fact, the Tianjin Climate Exchange suspended trading between 6 July – 23 October 2017.