As the world's biggest polluter, the environmental challenges that China faces in controlling its airborne emissions are crucial, not only to its own population in terms of tackling the severe domestic air pollution, but also to the planet as it faces calls from the international community to accept its responsibilities in cutting greenhouse gases. In view of the poor performance of the conventional Command-and-Control and Pollution Levy systems in addressing China's emissions, there is an increasing need to introduce new regulatory instrument to combat conventional air pollutants, and in particular carbon dioxide, where emissions trading appears a desirable option. As such, this book explores the feasibility of applying a national emissions trading system to control multiple air pollutants in China and proffers a concise policy proposal to that end.