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General Office of the Communist Party of China Central Committee and General Office of the State Council Issue Opinion to Clarify the Development Direction and Goals of the National Carbon Market
On May 24, 2025, the General Office of the Communist Party of China Central Committee and the General Office of the State Council issued an opinion, clarifying the development direction of China's national carbon market (including the mandatory carbon emission rights trading market and the voluntary greenhouse gas emission reduction trading market), and setting goals such as covering major industrial emission sectors and key voluntary emission reduction fields by 2027, and building a carbon market with sound rules and international alignment by 2030; the opinion arranges tasks from multiple aspects, including expanding the coverage of the carbon market, improving quota management, developing the voluntary emission reduction market, enriching trading products and participants, strengthening supervision and capacity building, and enhancing organizational guarantees. It aims to provide support for advancing carbon peaking and carbon neutrality and building a beautiful China by optimizing the allocation of carbon resources and stimulating the internal driving force for social green and low-carbon development.
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2
Seven Government Departments Jointly Issue Guiding Opinions to Strengthen Financial Support for New-Style Industrialization
The People's Bank of China and six other ministries jointly issued the Guiding Opinions on Financial Support for New-Style Industrialization. The document focuses on the major strategic tasks of new-style industrialization, and puts forward a range of financial support measures, including strengthening industrial technological innovation and industrial chain resilience, building a modern industrial system, and optimizing industrial layout. It clearly states that a mature financial system supporting the high-end, intelligent, and green development of the manufacturing industry will be basically established by 2027, and ensures implementation through measures such as improving the mechanisms of financial institutions, talent cultivation, and policy coordination. The aim is to provide high-quality financial services for advancing new-style industrialization and developing new productive forces.
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3
State Administration for Market Regulation Issues Guiding Opinions to Promote the Construction of National Carbon Metrology Centers
In July 2025, the State Administration for Market Regulation issued the Guiding Opinions on Promoting the Construction of National Carbon Metrology Centers. It clearly states that by 2030, a number of National Carbon Metrology Centers will be built relying on various institutions. The construction will be advanced through eight key tasks, including policy research, establishment of a quantity transmission and traceability system, research and application of technologies, improvement of actual measurement and verification capabilities, provision of technical services, application of data analysis, promotion of international exchanges, and development of talent teams. The implementation will follow the procedures of unified planning, application, preparation, acceptance, and supervision and evaluation. The aim is to support the goals of peaking carbon emissions and achieving carbon neutrality by enhancing carbon metrology capabilities.
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4
The Fourth International Conference on Financing for Development Adopts the Seville Commitment
On June 30, 2025, the Fourth International Conference on Financing for Development (FFD4) opened in Seville, Spain. At the conference, the Seville Commitment was adopted, establishing a renewed global framework for financing development. It aims to close the $4 trillion financing gap for the Sustainable Development Goals (SDGs), address the debt crisis, and reform the international financial system to make it fairer and more transparent. The consensus reached among over 190 nations on this matter. Building on the Pact for the Future adopted in September 2024, the conference is regarded as a once-in-a-decade opportunity, marking a new phase of collective action in financing for development. It is committed to promoting the shift from dialogue to practical delivery of results and injecting new hope into global sustainable development.
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