Research on the Key Issues to Be Considered in the Development of China's Intensity-Based Emissions Trading Market *

The sustainable development of China's energy saving and emissions reduction policy needs the support of market mechanism. Taking into account the characteristics of China's economic development stage and the country's intensity-based emission reduction commitments, China has the need to develop emissions trading market with intensity-based emission caps. Different from the cap-and-trade emissions pro- gram, the intensity-based emissions trading program has its own characteristics in target setting, trading mechanism and management, etc. Through the study on the development of international emissions trading market with intensity-based emission caps and its characteristics, this paper discusses the key issues to be considered in the development of China's intensity-based emissions trading market.