China's national carbon market passes 1 billion tonnes in cumulative allowance trading
In short
Li Gao, vice minister of ecological environment, said on 21 October that cumulative allowance trading in China's national carbon emissions trading market has passed 1 billion tonnes. He said the market now covers about 8.3 billion tonnes of carbon dioxide emissions, more than 65% of the national total.
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Li Gao, vice minister of ecological environment, said at a State Council Information Office press conference on 21 October that cumulative allowance trading volume in China's national carbon emissions trading market has passed 1 billion tonnes. [ 1 , 2 , 5 , 9 ]
Li said that in the more than five years since trading went online, China has built the world's largest carbon emissions trading market. He said it now controls about 8.3 billion tonnes of carbon dioxide emissions, more than 65% of the national total. [ 1 , 2 , 4 , 5 ]
The outlets differ on timing. Xinhua, via China News Service, said the 1 billion tonne mark was passed 'recently'. China News Service said it happened 'last week', and 36Kr, citing CCTV News, said 'not long ago'. Li also said carbon market construction has entered a new stage of rapid development. [ 1 , 4 , 7 ]
China News Service said the press conference concerned China's response to climate change and its part in global climate governance. It reported that an opinion of the General Offices of the Party Central Committee and the State Council on the carbon market sets goals and tasks for the coming period. It added that the ecological environment code strengthens the legal basis of the market and that the market has become the main form of carbon pricing in China. [ 7 ]
Jiemian's roundup of ministry announcements said that during the 14th Five-Year Plan period thermal power emissions were cut by about 530 million tonnes of carbon dioxide. It said more than 1,100 key emitters gained about 36 billion yuan in returns and that society-wide reduction costs fell by a cumulative 56.8 billion yuan. [ 8 ]
The roundup also said the Ministry of Ecology and Environment released its 2026 annual report on China's climate change policies and actions on 21 October. [ 8 ]
Why it matters
The figures come from an official State Council Information Office briefing and show the scale the national carbon market has reached, according to the vice minister. The documents give no independent assessment of the market's effect.
Key facts
- Li Gao, vice minister of ecological environment, spoke at a State Council Information Office press conference on 21 October. [ 1 , 2 , 5 , 7 , 9 ]
- Cumulative allowance trading volume in the national carbon emissions trading market has passed 1 billion tonnes. [ 1 , 2 , 4 , 5 , 7 , 9 ]
- The market controls about 8.3 billion tonnes of carbon dioxide emissions, more than 65% of the national total. [ 1 , 2 , 4 , 5 , 7 ]
- Li said trading has run for more than five years and that the market is the world's largest carbon emissions trading market. [ 1 , 2 , 4 , 5 ]
- Jiemian reported that during the 14th Five-Year Plan period more than 1,100 key emitters gained about 36 billion yuan in emission reduction returns. [ 8 ]
Confirmed by several sources
- Li Gao said at the 21 October State Council Information Office press conference that cumulative allowance trading in the national carbon market has passed 1 billion tonnes. [ 1 , 2 , 4 , 5 , 7 , 9 ]
- Li Gao said the market controls about 8.3 billion tonnes of carbon dioxide emissions, more than 65% of the national total. [ 1 , 2 , 4 , 5 , 7 , 8 ]
Still unclear
- When exactly the 1 billion tonne mark was passed. The documents say only 'recently', 'not long ago' and 'last week' and give no date.
- The reduction and savings figures for the 14th Five-Year Plan period. Only the Jiemian roundup gives them, and the other documents do not repeat them.
What local media are saying
Timeline, local time
- China News Service carried the Xinhua report of Li Gao's remarks. [ 1 ]
- CLS published the same figures. [ 2 ]
- Xinhua published a report under the headline on the 1 billion tonne mark. [ 6 ]
- China News Service published a longer report adding policy context. [ 7 ]
- Jiemian included the news in a roundup of ministry announcements. [ 8 ]
- China News Service published a further report on Li Gao's remarks. [ 9 ]