A "vault" for carbon-emissions permits could also create incentives to drive innovation in the battle against climate change.
How will the world's most populous country and its worst polluter get there?
China’s announcement of its carbon market is long-awaited. It was promised for 2017, and the nation has delivered just under the wire. While it will only cover the power sector for now, it’s still set to be the largest carbon-pollution trading market in the world. Click the audio player above to hear the full story.