The General Office of the CPC Central Committee and the General Office of the State Council Issue a Landmark Opinion on Promoting Green and Low-Carbon Transition and Strengthening the Development of the National Carbon Market

(Issued on May 24, 2025)
Digital Energy Storage Network News: Xinhua News Agency reported on August 25 that the Opinion on Promoting Green and Low-Carbon Transition and Strengthening the Development of the National Carbon Market was officially released by the General Office of the CPC Central Committee and the General Office of the State Council.
The document clarifies that by 2027, the national carbon emissions trading market will basically cover major emission-intensive industrial sectors, and the national greenhouse gas voluntary emission reduction trading market will achieve full coverage of key fields. By 2030, China will basically establish a national carbon emissions trading market based on total quota control with a combination of free and paid allocation, build a credible, transparent, methodologically unified, widely participatory and internationally aligned national voluntary greenhouse gas emission reduction trading market, and form a carbon pricing mechanism featuring remarkable emission reduction effects, a sound rule system and reasonable price levels.
Opinion of the General Office of the CPC Central Committee and the General Office of the State Council on Promoting Green and Low-Carbon Transition and Strengthening the Development of the National Carbon Market
The carbon market is a crucial policy instrument for addressing climate change and accelerating the comprehensive green and low-carbon transition of economic and social development through market mechanisms. At present, China has established two major market systems: the national carbon emissions trading market that imposes mandatory emission reduction obligations on key emitting entities, and the national greenhouse gas voluntary emission reduction trading market that encourages voluntary social emission reductions. To build a more efficient, dynamic and internationally influential national carbon market, this Opinion is issued with the approval of the Party Central Committee and the State Council.
I. General Requirements
Guided by Xi Jinping Thought on Socialism with Chinese Characteristics for a New Era, we will thoroughly implement the spirits of the 20th National Congress of the Communist Party of China and the Second and Third Plenary Sessions of the 20th CPC Central Committee, and fully apply Xi Jinping Economic Thought and Xi Jinping Thought on Ecological Civilization. Adhering to the general working principle of pursuing progress while maintaining stability, we will balance green and low-carbon transition with economic development, uphold the coordination of an efficient market and a well-functioning government, and stick to the fundamental positioning of the carbon market as a policy tool for controlling greenhouse gas emissions.
We will accelerate the development of a unified national carbon market, expand coverage scope and market participants in a planned and phased manner, foster a fair, open and transparent market environment, and maximize the efficiency and benefits of carbon emission resource allocation. We will promote the in-depth transformation of traditional industries, cultivate and develop new quality productive forces, stimulate the endogenous driving force for nationwide green and low-carbon development, and provide solid support for steadily advancing carbon peaking and carbon neutrality and building a beautiful China.
Major Development Targets
By 2027, the national carbon emissions trading market will basically cover major emission-intensive industrial sectors, and the national greenhouse gas voluntary emission reduction trading market will achieve full coverage of key fields.
By 2030, China will basically complete the construction of a national carbon emissions trading market based on total quota control and featuring integrated free and paid quota allocation. A credible, transparent, methodologically unified, extensively participatory and internationally compatible national voluntary greenhouse gas emission reduction trading market will be fully established. A mature carbon pricing mechanism with prominent emission reduction effects, complete rule systems and rational price levels will be fully formed.
II. Accelerate the Construction of the National Carbon Emissions Trading Market
(1) Expand the Coverage of the National Carbon Emissions Trading Market
We will steadily expand the coverage of industrial sectors and types of greenhouse gases included in the national carbon market based on industrial development conditions, carbon reduction and pollution control contributions, data quality foundations and carbon emission characteristics of various industries.
(2) Improve the Carbon Emission Quota Management System
We will establish a forward-looking, open and transparent carbon emission quota management system to ensure policy stability and continuity. Medium- and long-term national carbon emission quota control targets will be clarified by comprehensively considering socioeconomic development, industrial characteristics and low-carbon transition costs. In accordance with national greenhouse gas emission control goals and dual control requirements for carbon emission intensity and total volume, we will properly balance low-carbon transition with energy security, industrial and supply chain security and people’s livelihood security, scientifically set the total quota volume, and gradually shift management focus from intensity control to total volume control.
By 2027, total quota control will be prioritized for industries with relatively stable total carbon emissions. We will steadily implement the combined allocation of free and paid carbon quotas and gradually raise the proportion of paid allocation. A quota reserve and market adjustment mechanism will be established to balance market supply and demand and enhance market stability and liquidity. The proportion of certified voluntary emission reductions allowed for offsetting carbon quota settlement will be reasonably defined.
(3) Strengthen Guidance and Supervision over Pilot Carbon Trading Markets
We will coordinate the development of the national unified carbon emissions trading market and local pilot carbon markets. Existing regional carbon trading pilots will standardize operational management in accordance with national requirements to support regional green and low-carbon transformation. Pilot markets are encouraged to conduct pioneering trials in expanding coverage, optimizing market adjustment mechanisms, innovating regulatory tools, and developing carbon finance in a standardized and orderly manner, so as to accumulate practical experience for the national carbon market construction.
A regular evaluation and exit mechanism will be established, and no new local or regional carbon emissions trading markets will be approved or constructed in the future.
III. Vigorously Develop the National Voluntary Greenhouse Gas Emission Reduction Trading Market
(4) Accelerate the Development of the Voluntary Emission Reduction Trading Market
We will build a sound and scientific methodology system, accelerate the development of methodologies for key fields with remarkable sustainable development benefits, high social expectations and integrated social and ecological values, so as to effectively support voluntary social emission reduction and the realization of ecological product value. Full-chain management will be strengthened covering the development, validation, implementation and emission reduction verification of voluntary emission reduction projects.
Project owners, validation and verification institutions shall abide by integrity principles, strictly fulfill commitments and actively accept public supervision. We will strengthen the overall planning and management of national carbon emission reduction resources, and standardize all types of voluntary emission reduction trading activities.
(5) Promote the Application of Certified Voluntary Emission Reductions
Party and government organs, enterprises and social organizations are encouraged to apply certified voluntary emission reductions to offset carbon emissions in green supply chain management, large-scale event organization, social responsibility fulfillment and green low-carbon lifestyle promotion. Party and government organs and state-owned enterprises at all levels shall play an exemplary and leading role.
We will improve the offsetting rules for certified voluntary emission reductions, enhance international recognition, and support international compliance and product carbon neutrality practices of relevant industries and enterprises.
IV. Effectively Enhance Carbon Market Vitality
(6) Enrich Trading Products
We will prudently guide financial institutions to develop green financial products and services related to carbon emission allowances and certified voluntary emission reductions, and increase financial support for greenhouse gas emission reduction. We will improve institutional arrangements for carbon pledge and carbon repurchase, standardize carbon-related financial activities, and expand corporate carbon asset management channels.
Relying on the national carbon market, we will improve the national carbon pricing system, give full play to the price discovery function of the carbon market, and provide effective price signals for financial support of green and low-carbon development.
(7) Expand Trading Participants
Banks and other financial institutions will be supported to carry out standardized carbon pledge financing businesses. Qualified financial institutions will be allowed to participate in national carbon market transactions in a prudent, compliant and risk-controlled manner, and other non-compliance trading entities will be introduced at an appropriate time. Eligible natural persons will be gradually admitted to participate in transactions in the national voluntary greenhouse gas emission reduction trading market.
(8) Strengthen Market Trading Supervision
We will standardize the release of major policy information, improve risk early-warning, prevention and disposal procedures for market transactions, conduct real-time tracking and evaluation of national carbon market prices, and guide the formation of rational transaction prices. Trading behaviors will be strictly regulated, and market manipulation and other disruptive behaviors will be severely punished.
We will establish an early-warning and management system for compliance risks of key emitting entities to prevent systemic compliance risks. Supervision over carbon financial activities will be intensified to guide financial institutions to provide market-oriented and law-based financial services and forestall systemic financial risks.
V. Comprehensively Strengthen Carbon Market Capacity Building
(9) Improve the Management System and Support System
We will build a clear, efficient and unified management system compatible with the development stage of the national carbon market to strengthen centralized and standardized supervision. We will enhance national carbon market governance capacity, and promote the construction of full-chain, digital and intelligent carbon market management, registration and trading systems, optimize service functions and ensure data security.
(10) Strengthen Carbon Emission Accounting and Reporting Management
We will improve the greenhouse gas emission reporting system for enterprises. In tandem with national carbon market development, we will accelerate the revision of greenhouse gas accounting and reporting guidelines for key industrial enterprises and upgrade them to national standards when conditions are mature.
We will implement classified management of carbon emission accounting, optimize the accounting system based on emission factor methodology, and explore automatic monitoring-based carbon emission accounting. We will strengthen the deployment, application and management of key carbon emission metering equipment, conduct legal verification and calibration, formulate metering technical specifications, and carry out carbon emission metering inspections. Monthly data archiving of key parameters of key emitting entities will be implemented.
(11) Standardize Carbon Emission Verification
We will improve verification technical specifications for key industries, clarify verification key points and requirements, and standardize verification procedures. Validation and verification institutions shall adhere to the principles of objectivity, independence, integrity, impartiality and professionalism to conduct comprehensive and accurate carbon emission verification and ensure authentic and credible verification results. Simplified verification procedures will be applied to key emitting entities with consistently high-quality carbon emission reports.
(12) Strengthen Full-Cycle Supervision of Carbon Emission Data Quality
Key emitting entities will be urged to fulfill primary responsibilities for carbon emission accounting and reporting and improve internal data quality management systems. Ecological environment and market supervision departments at local levels will strengthen daily supervision of carbon emission data, and leverage big data, blockchain, Internet of Things and other digital technologies to improve regulatory efficiency.
Law enforcement will be intensified, and data falsification and irregular behaviors will be severely penalized.
(13) Enhance Supervision over Technical Service Institutions
We will implement qualification management for verification institutions serving the national carbon emissions trading market, clarify access criteria, code of conduct and exit mechanisms. Supervision over carbon emission inspection and testing institutions will be strengthened, and a cleanup mechanism for non-compliant institutions will be established.
We will foster professional technical service industries including consulting, inspection, testing, validation and verification, conduct regular industry evaluations, promote the healthy development of the third-party service market, and cultivate internationally professional service institutions. Industry self-regulation of technical service institutions will be strengthened.
(14) Improve the Information Disclosure System
Key emitting entities, registration institutions, trading institutions, technical service institutions and financial institutions shall timely disclose information concerning carbon emissions, compliance status, transactions and carbon pledges in accordance with national requirements and accept public supervision. A cross-departmental data sharing mechanism for carbon market data will be established. Credit supervision over key emitting entities, technical service institutions and financial institutions will be strengthened in accordance with the law.
VI. Strengthen Organizational Implementation and Safeguards
(15) Strengthen Organizational Leadership
Under the centralized and unified leadership of the Party Central Committee, all regions and competent departments shall earnestly implement this Opinion in light of local conditions. Party committees and governments at all local levels shall strengthen organizational leadership, actively advance green and low-carbon transition, increase policy support for carbon market construction and operation, and enhance supervision over key emitting entities, including quota issuance, settlement and data quality management.
The Ministry of Ecology and Environment shall take charge of overall coordination, organizational implementation and follow-up evaluation of carbon market construction to ensure full implementation of all tasks. All relevant departments shall strengthen coordination, cooperation and regulatory guidance based on division of responsibilities to form joint working forces. Major issues shall be reported to the Party Central Committee and the State Council in accordance with official procedures.
(16) Reinforce Policy and Legal Support
We will improve relevant laws and regulations to provide solid legal support for carbon market development, and conduct legislative research on the administration of voluntary greenhouse gas emission reduction trading. We will improve the long-term linkage mechanism between administrative law enforcement and criminal justice, carry out public interest litigation in relevant fields in accordance with the law, and strengthen joint crackdown on illegal and criminal acts in the carbon market.
We will improve judicial adjudication rules to support administrative supervision of the carbon market in accordance with the law. Policy coordination and institutional connection will be strengthened between the national carbon market and market-oriented mechanisms such as green power and green certificate trading. We will formulate unified charging rules for carbon market registration and trading, optimize capital settlement mechanisms, improve settlement efficiency, and reduce institutional transaction costs of the carbon market.
(17) Deepen International Exchanges and Cooperation
We will actively participate in the formulation of carbon market mechanism rules under the Paris Agreement on climate change and promote equitable and inclusive global green and low-carbon transition. We will strengthen international consultations and dialogues, deepen cross-border cooperation in carbon market fields, and promote mutual recognition of international technologies, methodologies, standards and data.
We will publicize China’s practices and experience in carbon market construction through diversified channels to contribute Chinese solutions to global climate governance.