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Nowadays our earth is faced with grim challenge of global climate change. All countries should go into action jointly to mitigate climate change. Carbon emission permit allocation and trading are two important issues to realize global cooperation. In this paper two kinds of comprehensive carbon emission permit allocation methods not only considering equity but also efficiency were advanced. After the carbon permit price was determined, the trading situations in various regions or countries in the world and the global benefits gained from emission trading were expounded. Moreover, the impact of carbon emission permit trading on Chinas economy was analyzed.
