China's Carbon Market Sees Surging Volumes and Prices, Financial Support Policies Accelerate
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Data shows China's national carbon market quota volume reached 2.35 billion tons in 2025, up 24.36% year-on-year, a record high. In the first eight months of 2026, volume and turnover increased by 46.53% and 67.64% respectively. The quota closing price rose to 97.90 yuan per ton, up 31.18% from end-2025. Coverage expanded to 3,680 key emitting entities in 2026, covering over 65% of national carbon emissions. A recent institutional research report citing the 'National Carbon Market Development Report (2026)' indicates that sectors including petrochemicals, chemicals, papermaking, and civil aviation are being prepared for inclusion, with the market expected to cover major industrial emitting sectors by 2027. The report argues the carbon market is transitioning from price discovery to asset pricing, and that clearer carbon quota ownership and the advancement of paid allocation will improve asset quality for emission-reducing enterprises and lower transition risks. The report also notes that financial support for carbon market construction will continue to strengthen, with the central bank and the Ministry of Ecology and Environment promoting carbon pledge and carbon repurchase systems, potentially allowing non-compliance entities like banks and securities firms to enter the market. Accelerated development of green financial products is expected to bring incremental business and valuation restructuring opportunities for listed companies.
Source report
Date: September 24, 2026 16:12:09 | Source: CFi.CN
Data shows that in 2025, the national carbon market quota trading volume reached 235 million tonnes, a year-on-year increase of 24.36%, setting a new historical high. In the first eight months of 2026, trading volume and turnover further rose by 46.53% and 67.64% respectively compared to the same period last year.
In terms of pricing, the quota closing price climbed to 97.90 yuan per tonne, up 31.18% from the end of 2025. The market's coverage has also continued to expand. In 2026, the number of key emitting entities reached 3,680, covering over 65% of the nation's total carbon emissions.
According to recent institutional research reports, the National Carbon Market Development Report (2026) has explicitly included industries such as petrochemicals, chemicals, papermaking, and civil aviation in the preparatory phase for market inclusion. It is expected that by 2027, the carbon market will cover the majority of major industrial emission sectors.
The reports suggest that the carbon market is transitioning from price discovery to asset pricing. The clarification of carbon quota ownership and the advancement of paid allocation are expected to improve the asset quality of emission-reducing enterprises and lower transition risks.
The research also highlights that financial support will continue to play a significant role in the development of the carbon market. The People's Bank of China and the Ministry of Ecology and Environment are promoting the implementation of mechanisms such as carbon pledges and carbon repurchase agreements. Non-compliance entities, including banks and securities firms, are expected to enter the market. The accelerated development of green financial products is creating opportunities for incremental business and valuation restructuring for relevant listed companies.
Source: CFi.CN
Source
中财网-行业新闻Eastern
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China Carbon Market Expansion Accelerates; Financial Support for Green Asset Revaluation