Building on the years of operation of several carbon trading pilot programs, including in Guangdong, the nationwide unified carbon market, which is set to begin operations next year, has... “ The arrow is on the bow. ” Recently, capacity-building for the national carbon market has been carried out. ( Guangdong ) At the center’s unveiling ceremony, it was learned that this year... 10 Next month, the National Development and Reform Commission will launch the allocation of carbon emission allowances for the nationwide carbon market, by... 2017 In the first or second quarter of the year, all quota allocations will be completed. And in... 2020 After the initial operational phase of the national carbon market ends next year, the threshold for including companies in the carbon market will be lowered to expand its coverage, and a carbon tax will be imposed on emission sources outside the carbon market system.

　　In addition, as a carbon market “ Fundamental Law ” The "Regulations on the Administration of National Carbon Emission Trading" have also made recent progress. During a speech that day on national carbon market policies and progress, a relevant official from the National Development and Reform Commission revealed that the Legislative Affairs Office of the State Council has already listed these regulations as a priority legislative item. After several rounds of soliciting public opinions, the next step will be to enter the legislative process.

　　Our country commits to reducing carbon dioxide emissions. 2030 Reach peak emissions around the year and strive to achieve peak emissions as early as possible; carbon dioxide emissions per unit of GDP will... 2005 Year-on-year decline 60%-65% The construction of a nationwide carbon market, which uses market-based mechanisms to promote the achievement of emission reduction targets, is highly anticipated.

　　 “ In fact, work on establishing the national carbon market has already been underway since last year. Therefore, the concept or definition of launching the national carbon market next year should be... ‘ Start and run ’ In other words, by then, market entities such as emission-control enterprises and investment institutions will be able to freely trade on the national carbon trading market. ” Jiang Zhaoli, Deputy Director of the Department of Climate Change Response at the National Development and Reform Commission, introduced that the number of enterprises expected to be included in the first batch is currently estimated to be... 7,000–8,000 Home, this year 10 The monthly process of launching large-scale quota allocation will begin, and it is expected to be completed by either the first or second quarter of next year, after which trading can commence.

　　It is reported that, 2016-2020 The first phase of the national carbon market covers eight major industries: petrochemicals, chemicals, building materials, steel, nonferrous metals, papermaking, power generation, and aviation. In his speech, Jiang Zhaoli revealed that, in accordance with requirements from the State Council, quotas for new-energy vehicles will also be incorporated into the management of the carbon market. Among the eight major industries, all those... 1 The consumption of 10,000 tons of standard coal, 3 Annual average reaches 1 Enterprises consuming 10,000 tons of standard coal must join.

　　2020 The second phase of the national carbon market, starting in [year], will be a phase of refinement and expansion. This phase will broaden the scope of participating enterprises and trading products, and develop diversified trading models.

　　Jiang Zhaoli said, “ To 2020 In the years to come, the threshold will be gradually lowered, and a combination of quotas and carbon taxes will be employed to ensure that the carbon pricing system covers all enterprises—this is the nation’s overarching goal. ” He expects that... 2020 The year will have 10 Over ten million enterprises will enter the carbon market, as China will then raise the threshold for entering the carbon market from its current annual emission level. 1 Reduced to 10,000 tons of standard coal 5000 Tonnes—truly reaching the ideal scale for the carbon market.

　　He further revealed that, 2020 After the year, regarding 5000 Enterprises emitting less than one ton of standard coal or those not included in the carbon market system will be subject to a carbon tax, thereby establishing a policy framework in which all enterprises are obligated to reduce emissions.

　　Prior to this, according to a report by Xinhua News Agency, Finance Minister Lou Jiwei stated this year that... 3 Speaking at a forum, he stated that China will not establish a separate carbon tax; instead, it will incorporate the carbon tax as a specific item within the tax categories currently under preparation, such as the environmental tax or the resource tax. However, he revealed that this year’s expansion of the resource tax reform does not yet include the carbon tax.

　　This time for 2020 A carbon tax will be imposed starting next year. ” This statement also marks the first time that officials from national ministries and commissions have disclosed the planned implementation timeline for the carbon tax. 2020 In the years to come, annual carbon futures trading could reach hundreds of billions, and the scale and prospects of the national carbon market following its launch are also drawing considerable attention.

　　On this point, Jiang Zhaoli stated that from... 2017 Since the launch of the national carbon market last year, to... 2020 In the initial operational phase prior to the year, quota allocation will primarily be conducted through free distribution. Moreover, stress tests will be carried out, and it is recommended that carbon prices not be set too high during this phase, so as not to pose challenges to various segments of the carbon market.

　　To 2020 In the years ahead, the national carbon market should, on the one hand, develop diversified trading models. In addition to exchange-based trading, it should also promote over-the-counter trading; and beyond spot trading, it should also foster futures trading, thereby establishing a trading market that operates steadily and develops in a healthy manner.

　　What impact does the national carbon market have on the economy? ? According to the preliminary analysis by the National Development and Reform Commission, if calculated based on the eight major industries, future emissions will reach annually... 30 From one hundred million to 40 A scale of hundreds of millions of tons. If it were based solely on spot trading without introducing futures trading, its annual transaction volume would be... 12 From one hundred million to 80 100 million yuan.

　　 “ Futures trading features high trading volumes and frequent transactions. If futures are included, the total transaction amount will increase significantly, potentially reaching annual transaction amounts of... 600 From one hundred million to 4000 Hundreds of millions of yuan—some say that a transaction volume of this magnitude could represent the entire coal market’s trading volume. ” Jiang Zhaoli stated that, by the time... 2020 In the years to come, if futures contracts for this type of commodity are introduced, the trading volume of carbon allowances could rival—or even surpass—the trading volume of coal.

　　Currently, the carbon prices in various domestic pilot programs are approximately... 15–30 At one yuan per ton, Jiang Zhaoli said that, in the long run, it is estimated to reach... 300 One yuan per ton, even 500 One yuan per ton. “ The development of the carbon market must proceed steadily and in a gradual, step-by-step manner. Following this pace, the future carbon market will become a fundamental institutional framework for orderly corporate management and operations, playing a crucial role in energy conservation and emissions reduction. ”

　　2020 In the years to come, our country will explore the possibility of connecting with other international carbon markets. “ Take neighboring East Asian countries like South Korea and Japan, for example—let’s see if there’s any potential to connect their markets. ” Jiang Zhaoli said.