China establishes biggest carbon market

China has established the world’s biggest carbon market in terms of the coverage of greenhouse gas emissions, according to the Progress Report of China’s Carbon Market (2024) released in central China’s Wuhan City, Hubei Province on Sunday.

The report, released on the China Carbon Market Conference, said over the three years since its launch, China’s national carbon emissions trading market or national carbon market has been operating smoothly.

China will further deepen international exchange and cooperation, actively participate in bilateral and multilateral processes of global climate governance, and strive to make new progress in negotiations on global carbon market mechanisms, according to the report.