The first central document on carbon markets in our country has been issued, marking a new stage in the construction of national carbon markets.

The General Office of the Communist Party of China Central Committee and the General Office of the State Council recently issued the "Opinions on Promoting Green and Low-Carbon Transformation and Strengthening the Construction of a National Carbon Market". This is the first central document in the field of carbon markets in China, which will provide more comprehensive institutional guarantees and stronger capacity support for the construction of national carbon markets. Xie Yingxian, Director of the Climate Change Department of the Ministry of Ecology and Environment, stated that by strengthening the construction of carbon markets, effective markets and proactive governments can better integrate to ensure that the carbon market operates freely and is well-regulated, stimulating green productivity and new quality productivity, and promoting comprehensive green transformation of the economy and society. The "Opinions" clearly put forward the "timetable" and "roadmap" for the development of the national carbon market: From the perspective of mandatory carbon markets, by 2027, it is necessary to gradually cover the major emitting industries in the industrial sector on the basis of the existing coverage of the power generation, steel, cement, and aluminum smelting industries. From the perspective of voluntary carbon markets, it is necessary to further expand to areas such as biomass utilization and solid waste treatment on the basis of the current coverage of renewable energy, methane emission reduction, energy efficiency improvement, and forestry carbon sinks, to achieve full coverage of key areas by 2027; by 2030, a voluntary carbon market that is credible, transparent, methodologically consistent, widely participated in, and internationally aligned should be established.