China’s State Council announced new measures to boost the national carbon market and promote the transition to low-carbon and green energy. The new guidelines aim to promote the construction of a more effective, dynamic and internationally influential national carbon market.
China launched its quota carbon emissions trading market in late 2017, aiming to control total carbon emissions by allowing emitters to trade surplus carbon quotas. In January 2024, authorities launched the China Certified Emission Reduction (CCER) program for greenhouse gases, allowing businesses to trade certified voluntary emissions credits.
China aims to expand the national carbon market to cover major industrial emitters nationwide and expand the national CCER market to cover key fields by 2027. By 2030, a carbon pricing system with complete rules is expected to be in place with the support of the two markets.
To realize the target, the country should expand coverage of the carbon market based on industrial development and enhance carbon quota management.
For the CCER market, the guidelines point to improved methodology for emissions reduction and enhanced management for relevant projects.
Supervision and management of the two markets will be strengthened.
According to government data, in 2024, China’s quota carbon market reached a total trading volume of 189 million tons with a cumulative trading value of 18.1 billion yuan (US$2.6b). By August 2025, the CCER market had a cumulative trade volume of 2.5 million tons, with trading volume exceeding 210 million yuan (US$30m).
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