In order to control greenhouse gas emissions and achieve strategic goals of “carbonpeaking” and “carbon neutrality”, China release a number of rules and plans on energy-saving,emissions reduction, CO2 emission trading and other relevant contents, such as theAdministrative Rules for the Trading of Carbon Emission Rights (for Trial Implementation),
the Administrative Rules for the Settlement of Carbon Emission Rights (for TrialImplementation) and the Administrative Rules for the Registration of Carbon Emission Rights(for Trial Implementation), etc. On the other hand, the pilot regions for the trading of carbon
emission rights in China have also formulated relevant rules and measures. By introducing
series of incentives and subsidies concerning carbon emission reduction and carbon neutrality,
these pilot regions encourage enterprises to save energy and conduct technology reform toreduce carbon emission and facilitate the realization of “carbon peaking” and “carbonneutrality”.
In practice, China aims to achieve carbon emission reduction by promoting energy saving,developing clean energy (such as hydropower, nuclear power and wind power), andstrengthening scientific and technological innovations (with the carbon capture, utilization andstorage (CCUS) as an example of innovative technologies). In respect of regions, China’semissions trading system (ETS) for carbon dioxide was first piloted in eight provinces and cities
including Beijing, Shanghai and Tianjin. Later, based on the experience gained in the pilot
process, China’s nationwide carbon trading was officially launched at the Shanghai
Environment & Energy Exchange on July 16, 2021. In respect of industries and sectors, China
established plans for the determination and allocation of total carbon emission quota by taking
the power generation industry as a breakthrough, and has gradually expanded the coverage ofindustries and markets to promote the transitioning of carbon emission trading from pilot
regions to a nationwide market.
As we share one Earth and atmosphere, carbon emission reduction is not the responsibilityof a single country, and all countries in the world should make concerted efforts to achieve awin-win situation. While continuously promoting domestic efforts on carbon emission
reduction, we should actively explore further cooperation with other countries, especially withour neighboring countries, such as Japan and South Korea. Specifically, a win-win cooperation
could be achieved from the following aspects: Firstly, in respect of policies and systems, China,
Japan and South Korea may enter into international treaty to establish cooperation on carbon
emission reduction and carbon trading, agree on principles and scope of cooperation, andstablish judicial collaboration between countries and regions; Secondly, in terms oftechnologies, China, Japan and South Korea may strengthen their scientific and technologicalexchanges on carbon emission reduction, learn from and share the relevant technologies, jointly
carry out technological research and development, optimize their respective energy structure,and contribute their technological strengths for the purpose of carbon emission reduction;
Thirdly, in respect of specific operations, the three countries may strengthen the development
and interconnectivity of the carbon emission trading markets, improve market regulation andlegal protection, effectively achieve the cross-border flow of carbon emission rights, promote
the reduction of total carbon emissions in transnational regions, and finally reach the goal ofcarbon neutrality.