Abstract:The factors which affect Chinese urban resident’s willingness to pay (WTP) for CO2 emission reductions were investigated by using contingent valuation method (CVM). China urban resident’s WTP was 132 yuan/year for reducing CO2 emissions by 30% until the year 2050, 216 yuan/year for a reduction of 60%, and 264 yuan/year for a reduction of 85%. Through the general regression model analysis, it was found that the urban resident’s education level, household’s annual per capita income, job type, city location, cognitive level on climate change and environmental awareness were closely correlated with the WTP, and how the costs for reducing CO2 emissions should be shared among countries also had significant impact on the WTP.