# 2.3. China's National Emissions Trading Scheme

![China ETS](/files/Ay4bIxRQhPbevxgMv4ha)

In 2021, China stepped into the game with their own national ETS system. Pricing of carbon units under the China ETS is expected to be about $4/t when the trading starts, significantly lower than current price levels of €50/t in the European Union system.

China's ETS is expected to be worth $800 million within the first year and is estimated to grow as much as $25 billion by the year 2030.

The former governor of the People's Bank of China, Zhou Xiaochuan, recently expressed his views that China should consider studying the linkage with the European carbon market which led a lot of people to speculate about a potential link between China's ETS and the EU ETS in the long term future.


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