China is planning to implement the largest CO₂ emissions trading system in the world. To reduce emissions, the system will be a tradable performance standard (TPS), an emissions pricing mechanism that differs significantly from the emissions pricing instruments used in other countries, such as...

Labor quality growth captures the upgrading of the labor force through higher educational attainment and greater experience. We find that average levels of educational attainment of new entrants remain high, but will no longer continue to rise. Growing educational attainment will gradually...