China's Ministry of Ecology and Environment reported on the 12th that the national carbon emission trading market (hereinafter referred to as the national carbon market) has operated smoothly and orderly since it was launched on July 16, 2021. As of November 10, 2021, the national carbon market has operated for 77 trading days, the cumulative trading volume of quota has reached 23.4404 million tons, and the cumulative trading volume has exceeded 1 billion yuan (RMB, the same below), about 156.7 million US dollar.

    On July 16, 2021, the online trading of the national carbon market was officially launched. It is included in 2162 key emission units in the power generation industry, covering about 4.5 billion tons of carbon dioxide emissions. It is the largest carbon market in the world.

    Since the launch of online trading, the overall operation of the national carbon market has been stable and orderly. With the deadline of the first performance cycle of the national carbon market approaching, the trading willingness of key emission units has increased and the trading activity has gradually increased. As of November 10, 2021, the national carbon market has operated for 77 trading days, the cumulative trading volume of quota has reached 23.4404 million tons, and the cumulative trading volume has exceeded 1 billion yuan, reaching 1.044 billion yuan.

    The national carbon emission trading market is a major institutional innovation to use the market mechanism to control and reduce greenhouse gas emissions and promote green and low-carbon development. It is also an important policy tool to implement China's "carbon dioxide emission peak goal and carbon neutrality" vision.

    The Ministry of Ecology and Environment said that in the next step, it will also promote the promulgation of the Interim Regulations on the administration of carbon emission trading, gradually expand the industry scope covered by the carbon market, enrich the trading varieties and trading methods, and give full play to the important role of the carbon market in coping with climate change and promoting the realization of carbon peak.