China’s carbon market development has emerged as a focal point at the COP30 climate conference in Belém, Brazil, with international delegates praising its structured growth and scalability. Vice Minister of Ecology and Environment Li Gao highlighted the nation’s three-pronged approach during a Monday side event at the China Pavilion, emphasizing tailored market design, data-driven governance, and cross-border collaboration.
Since 2024, China’s emissions trading system (ETS) has expanded to cover steel, cement, and aluminum industries, achieving cumulative trading volumes of 770 million tonnes of carbon allowances by October 2025, valued at over 51.8 billion yuan ($7.3 billion). The voluntary reduction market is also accelerating low-tech innovation and ecological monetization.
World Bank Climate Change Global Director Valerie Hickey described China’s ETS as "a model of steady and expanding growth," while EU Climate Action Director Diana Acconcia reaffirmed Europe’s commitment to deepening carbon pricing cooperation. Multiple nations expressed interest in adopting similar frameworks to meet climate targets.
