China's national carbon emissions market sees trading volume top 930 mln tonnes

The cumulative trading volume of China's national carbon emissions rights trading market had exceeded 930 million metric tons by the end of July 2026, Minister of Ecology and Environment Huang Runqiu said on Aug 13.

This market, which began trading in 2021, has helped industries cut carbon emissions at lower costs and has contributed substantially to the green and low-carbon transition, Huang told a press conference.

China recently issued the 15th Five-Year Plan for Building a Beautiful China, which calls for expanding the coverage of the national carbon emissions rights trading market in an orderly manner, increasing market participants, and reducing carbon emissions per unit of product covered by the market by around 3 percent.

The country has made notable progress in addressing climate change in recent years, with its energy, industrial and transportation structures continuing to improve.

Li Gao, vice minister of ecology and environment, said China will expand the national carbon emissions rights trading market to cover more high-emission industries, including petrochemicals and chemicals, beyond power generation, steel, cement and aluminum smelting.

This expansion will bring about 80 percent of the country's carbon dioxide emissions under effective control, Li added.

China will also continue to advance the green and low-carbon transition in key sectors, such as energy, industry, transportation and urban-rural development. Meanwhile, it will strengthen control of emissions of non-carbon dioxide greenhouse gases such as methane, Li said.