On 22 June 2021, the Shanghai Environment and Energy Exchange (SHEEEX) announced the transaction rules for the national ETS. The announcement, elaborated on the five aspects of trading place, transaction mode, trade session, information disclosure, and market oversight. SHEEEX oversees opening trading accounts and maintaining the exchange system until the country opens an official trading institute. Trade sessions will be held from 9:30 to 11:30 and 13:00 to 15:00 from Monday to Friday for listed trading and between 13:00 to 15:00 from Monday to Friday for block trading.

Carbon emission allowances may be traded via agreements or one-way bidding, of which the former includes listed trading and block trading. Listed-trading transactions will be limited to 100,000 tons CO2 per purchase with prices fluctuating at most ±10% compared to the closing price on the last trading day. Block-trading on the other hand starts at 100,000 tons CO2 per purchase and takes place in a price range of ±30% compared to last day’s closing price.

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