China's energy plan to reduce coal to 60% and use more Russian natural gas

Next Big Future: China's National Development and Reform Commission (NDRC) is talking about prospective national carbon market formation by 2016, with potential coverage upwards of 4 billion MTCO2. According to official NDRC estimates, a national carbon market in China could reach an aggregate value of $65 billion by 2020. 

In March 2016, China is expected to announce its next five year energy plan. The fundamental levels of China's coal consumption will continue along absolute increases, China's National Energy Administration (NEA) Planning Board Division nonetheless recommended that the 13th Five Year Plan contain a 60% coal consumption target by 2020—a sizable decrease from 67% in 2013.

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