China Dialogue, the environmental issue website that posts all articles and user comments in both English and Chinese, has published a series of articles about carbon trading:
There is an introduction to the debate by Maryann Bird, an attack on the concept, titled The limits of free-market logic by Kevin Smith, and a defense of the practice by carbon trader Leigh Fitzgerald.
There also this news item: China continues to lead carbon market. Excerpt:
China has emerged for the second year running as the world leader in providing greenhouse gas emission credits, said experts from the World Bank on Thursday.