China's Carbon Market Trading Volume Exceeds 930 Million Tonnes

China’s national carbon emissions trading market had a cumulative trading volume of more than 930 million tonnes by the end of July 2026, Minister of Ecology and Environment Huang Runqiu said on Thursday (13/8).

Speaking at a press conference, Huang said the market, which began trading in 2021, has helped various industries cut carbon emissions at lower cost and made a significant contribution to the green and low-carbon transition.

China recently issued the 15th Five-Year Plan for Building a Beautiful China, which calls for the orderly expansion of the national carbon emissions trading market’s coverage, an increase in the number of market participants, and a reduction of around 3 percent in carbon emissions per unit of product covered by the market.

The country has made significant progress in tackling climate change in recent years, with its energy, industrial and transport structures continuing to improve.

Vice Minister of Ecology and Environment Li Gao said the country will expand the national carbon emissions trading market to cover more high-emitting industries, including petrochemicals and chemicals, beyond power generation, steel, cement and aluminium smelting.

“This expansion will place around 80 percent of the country’s carbon dioxide emissions under effective control,” Li said.

China will also continue to promote the green and low-carbon transition in key sectors such as energy, industry, transport, and urban and rural development.

“Meanwhile, the country will strengthen the control of non-carbon dioxide greenhouse gas emissions such as methane,” Li said.