China plans to launch national cap-and-trade system to limit greenhouse gas emissions

WASHINGTON – U.S. administration officials say China will announce plans Friday to launch a national system to limit greenhouse gases and force industries to purchase pollution credits.

The officials say Beijing plans to put the system known as cap-and-trade into place in 2017 as part of measures aimed to address climate change in co-operation with the U.S. and others.

A statement to be released following Friday’s summit between President Barack Obama and his Chinese counterpart aims to flesh out how their two countries plan to achieve targets for cutting emissions set at a bilateral summit in Beijing last year.

The officials, who spoke on condition of anonymity so they wouldn’t pre-empt China’s official announcement, say it’s hoped the announcement will give impetus to a broader global treaty on climate change in December.