June 19, 2019 – The city of Tianjin will auction 2 million CO2 allowances on June 27. The auction will only be open to companies that finished 2018 with a deficit of carbon permits and companies cannot purchase more allowances than required to fulfill their 2018 compliance obligation. Despite the auction, there seems to be an oversupply of allocation permits in the Tianjin market overall. However, there is low liquidity in the market.
Years of groundwork came to a conclusion with the official ushering in of trading in the Chinese national emissions trading system (ETS) on 16 July