The Chinese national carbon trading scheme was announced in November 2008 by the national government to enforce a compulsory carbon trading scheme across the country's provinces as part of its strategy to create a "low carbon civilisation".
In 2014 it was announced to start in 2016., although smaller, regional markets were in place since 2012.
The scheme would allow provinces to earn money by investing in carbon capture systems in those regions that fail to invest in the technology.
The Economist Intelligence Unit produced a report in 2013 on China's experiments with carbon trading, addressing the challenges in creating such a programme in China.
References
Chinese national carbon trading scheme Wikipedia(Text) CC BY-SA