The municipal government of Shanghai released implementation guidelines last week for a pilot carbon emissions trading scheme, making it the first of seven jurisdictions in China to do so. The municipality is expected to start emissions trading in 2013, along with Beijing, Tianjin, and Shenzhen, with full operation by 2015. Chongqing, Hubei, and Guangdong are likely to follow suit by the end of 2015. The national government has set a goal to reduce carbon intensity 17 percent by 2015 from 2010 levels, and between 40 and 45 percent by 2020 from 2005 levels.