China's carbon market to introduce absolute emissions caps from 2027
China will tighten its carbon trading market by introducing absolute emissions caps in some industries for the first time starting by 2027.
The caps will be implemented first in industries with relatively stable carbon emissions by 2027, according to a statement by the State Council and Central Committee of the Communist Party. By 2030, China's nationwide carbon market or emissions trading scheme (ETS) will be basically established.