Climate change spurs carbon credit trading

China to launch the seventh pilot to reduce greenhouse gas emissions

Global collaboration on climate change has entered a new stage as challenges brought by global warming have become increasingly urgent, said Xie Zhenhua, vice-chairman of China's National Development and Reform Commission on Monday.

China is under growing pressure to cut greenhouse gas emissions, said Xie, who recently returned from ministerial-level discussions held during the ongoing Climate Change Conference in Bonn, Germany.