An update on coming carbon caps in Beijing

I was hearing yesterday from a good source that China could announce caps on carbon in the city of Beijing in the next two to five weeks. This cap would supposedly go into effect January 1, 2013 - which is coming up soon.  China has said it will limit carbon emissions in five cities and two provinces - with Beijing looking to be the first one to announce specific laws.  This could start a warm-up in the price of carbon credits.  If this does get announced soon it would be big big news - that China has started to act on limiting carbon while the US  is in legislative carbon gridlock...