HK eases carbon trading anomaly
Hong Kong companies that reduce their carbon dioxide emissions in the city can now sell those cutbacks in a $12.9bn global carbon credit market created under the Kyoto protocol. The new arrangements, announced by the Hong Kong government yesterday, are a step towards rectifying an anomaly created by China's "one country, two systems" rule over its special administrative region. Under this rule, Hong Kong companies are treated no differently from foreign companies when doing business in China.