Two environment and energy exchanges were launched on Aug 19 in Shanghai and Beijing, as the country increases efforts in emission cutting and energy conservation, domestic media reported.

The Shanghai Environment and Energy Exchange will collect, filter and publicize information for the environment and energy-related equity and emission credit trading, and provide a platform for such deals between companies or institutions, according to a statement from Shanghai United Assets and Equity Exchange (SUAEE), the sole owner of the environment and energy exchange.

The exchange will also provide consultancy, project design and evaluation, fund operation and technical support to equity owners, energy reservation integrators, research companies and investment institutions.

"Overseas companies now can come to China and buy the carbon credit on the exchange," said Luo Xinyu, general manager of SUAEE. The Kyoto Protocol, effective from 2005, set strict restrictions on carbon emission of developed countries. Many developed economies began to buy carbon credits from developing countries.

Meanwhile, Beijing also set up its environment exchange Tuesday. Xiong Yan, president of Beijing Environment Exchange, said that it will mainly provide information on energy reservation related to technical deals, sulfur dioxide and COD (chemical oxygen demand) credit trading and emission reduction of greenhouse gases.

Luo revealed that besides Shanghai and Beijing, Tianjin was also planning to set up an environment and energy exchange.