Hmm: Are the Chinese far more interested in *selling* CO2 credits than in buying them?

EU issues warning to carbon tax rebels India, China | Firstpost

A total of 10 Indian and Chinese commercial airlines have broken EU law requiring them to offset their carbon emissions, while all other international carriers flying to or from Europe have complied, the European Union’s climate chief said on Tuesday.

The EU law demanding all airlines participate in the EU’s Emissions Trading Scheme (ETS) has prompted outcry and threats of a trade war...only eight Chinese and two Indian airlines have delivered on threats not to comply, while more than 1,200 airlines have met the EU’s requirements.

...Penalties for breaking the EU law start at 100 euros per tonne of carbon airlines fail to pay for, while the cost of compliance is estimated at about 2 euros per passenger for a flight from Shanghai to Frankfurt.

UN to Help Give World’s Poor Fairer Share of Carbon Credits - Bloomberg

China produces almost two-thirds of all credits, the first of which were issued in 2005.