China’s tropical island of Hainan, with a population of just 9 million and a free trade zone, has repeatedly served as a “laboratory” for new government policies. Hainan will now establish an International Carbon Emissions Trading Centre in the second half of the year, promote low-carbon economic models, and test market-based environmental offset mechanisms in transitioning the local economy and society to carbon finance.

http://j.people.com.cn/n3/2022/0321/c94476-9973965.html