Challenges loom for China's ambitious carbon trading market

Beijing

CHINA'S newly announced carbon market is a good step to controlling polluting emissions, but it will take quite a long time for a national market to become effective.

Analysts said the world's second-largest economy will face many challenges along the way including the need for transparent reporting, how credits are allocated and the difficulty of predicting China's growth. What's more, China has very little history in commodities trading.