After three years of planning, the national carbon emission trading scheme will be launched online in June. Live tests are said to have involved more than 30 Chinese enterprises. The major goal of the carbon market is to serve companies to reduce carbon emissions, so companies are able to reduce emissions at a lower cost with a market-oriented mechanism. The Ministry of Ecology and Environment aims to further standardize the registration, trade, and carbon emission rights. China previously announced that it would strive to peak carbon dioxide emissions by 2030 and achieve carbon neutrality by 2060.
Global Times May 23, 2021
Xinhua May 19, 2021