China currently emits about 30% of global emission, and it became the largest emitter in the world. When the market launched, it will be the largest carbon market in the world. The initial design of the system targets a scope of 3.5 billion tons of carbon dioxide emissions that come from 1700 installations. It has made a voluntary pledge under the UNFCCC to lower CO2 per unit of GDP by 40 to 45% in 2020 when comparing to the 2005 levels.