The Ministry of Ecology and Environment has issued three key regulations to govern registrations, trading and settlements through the impending unified national emissions trading system (ETS) amid China's efforts to meet its 2060 carbon-neutral target, the Shanghai Securities News reported Thursday.

Both relevant institutions and individuals are expected to participate in transactions, as the new trading regulations say those who can participate in national carbon emissions trading include key emitters as well as institutions and individuals that comply with relevant national trading rules, said the newspaper, citing the regulations issued on Wednesday.

(Photo: agencies)

The trading rules dictate that the products traded through the ETS are carbon emission quotas, and say that the ministry can add additional trading products to the system in accordance with national regulations.

To build its national ETS, the country has been piloting emissions trading at the regional level since 2011, covering seven provinces and cities including Beijing, Shanghai and Guangdong.