Study on the Property Right of Emission Trading in China

Property right is the core issue of emission trading. Because of the immature market mechanism, emission trading in China is restrained by these problems as follow: the definition of property right is not clear, the transaction cost of emission trading is high, the lack of the corresponding institutions for the reorganization of the pollution right. This paper expounds these problems mentioned above according to the theory of property right, and holds out the measures for the improvement of the emission trading in China, which is that the definition of pollution right and emissions trading and restructuring of pollution right are different and interactive aspects of pollution right, and that we should make an overall planning and coordinate the implementation of them three.