Further nurturing of carbon trading system urged

China ups support, regulations for market to increase participation, meet green goals

Editor's note: China aims to peak its carbon emissions by 2030 and achieve carbon neutrality by 2060, major goals in a national green transition drive. This series looks at efforts in various sectors to meet the goals.

While the year-old national-level carbon trading system has helped to shape the basic structure of the Chinese carbon market and provide a benchmark for carbon pricing, continued efforts should be made to nurture more active trading and include more participants, experts said.

Since carbon trading officially began on July 16 last year, up to 194 million metric tons of carbon emission allowances have been traded, with the total trading value approaching 8.5 billion yuan ($1.22 billion), said the Ministry of Ecology and Environment. The price of carbon emission allowances closed at 58.24 yuan per ton on July 15, up 14 percent from that on the first trading day.