How to understand the State–Market Relations in China’s Carbon Market?

TY - JOUR

T1 - How to understand the State–Market Relations in China’s Carbon Market?

AU - Li, Ruoxuan

PY - 2025/4/24

Y1 - 2025/4/24

N2 - In March 2025, the Ministry of Ecology and Environment in China confirmed the national carbon market will expand to include three more sectors. This expansion offers a timely lens to examine the state–market relations in China’s environmental governance. Given that China accounts for nearly 28% of global CO₂ emissions, the evolution of its national carbon market will play a pivotal role in achieving climate goals under the Paris Agreement. As China scales up its carbon market, the challenge ahead lies in balancing policy control with the flexibility needed to deliver meaningful emissions reductions.

AB - In March 2025, the Ministry of Ecology and Environment in China confirmed the national carbon market will expand to include three more sectors. This expansion offers a timely lens to examine the state–market relations in China’s environmental governance. Given that China accounts for nearly 28% of global CO₂ emissions, the evolution of its national carbon market will play a pivotal role in achieving climate goals under the Paris Agreement. As China scales up its carbon market, the challenge ahead lies in balancing policy control with the flexibility needed to deliver meaningful emissions reductions.

M3 - Article

JO - East Asia Forum

JF - East Asia Forum

ER -