China's carbon emissions trading market has played a significant role in reducing carbon emissions and promoting green development over the past five years, said an official from the Ministry of Ecology and Environment, as the market marks its fifth anniversary on Thursday.
Since its launch, the national carbon market has undergone rapid development and grown into the world's largest of its kind.
As of June this year, cumulative trading volume of carbon emission quotas had exceeded 917 million tons, with the total turnover surpassing 61.7 billion yuan (about 9.12 billion U.S. dollars).
In the first half of 2026, the trading volume reached 52.96 million tons, up about 37 percent year on year.
"During the 14th Five-Year Plan period (2021–2025), the thermal power sector alone achieved 530 million tons of carbon emission reductions, with around 80 percent of enterprises lowering their carbon emission intensity. Over the past three years, more than 200 small and outdated power units were shut down. Meanwhile, new emission-reduction projects including concentrated solar power and green hydrogen production have been promoted. In addition to cutting carbon emissions, the market has also reduced sulfur dioxide by 27,000 tons, nitrogen oxides by 94,000 tons, and smoke and dust by 135,000 tons. The guiding role of carbon price is gradually taking effect," said Lu Shize, deputy director general of the Department of Climate Change at the ministry.
Over the past five years, the number of key emission entities covered by the market has expanded from 2,162 thermal power companies to 3,378 high-energy-consuming enterprises in sectors including steel, cement and aluminum smelting.
By leveraging the market mechanism to drive low-carbon transition, China's national carbon market has forged a path toward a win-win outcome for economic development, industrial upgrading and ecological improvement.
"By 2027, we aim to achieve full coverage of key industrial emission sectors, so that the carbon price truly reflects abatement costs and sends clear market signals to all industries - higher emissions mean higher costs, while low-carbon transitions will yield returns. We must harness the market mechanism to inject strong momentum into achieving the target of reducing carbon emissions per unit of product by 3 percent across covered industries during the 15th Five-Year Plan period (2026–2030)," said Lu.
China's carbon market plays significant role in promoting green development: official
China's carbon market plays significant role in promoting green development: official
Overseas healthcare and medical firms, from first-time to longtime exhibitors, are using the ongoing 9th China International Import Expo (CIIE) in Shanghai as a platform to tap China's fast-growing market and reach Asian consumers.
The CIIE, running from November 5 to 10 in Shanghai, has attracted 4,142 overseas exhibitors across more than 440,000 square meters, with over 480 exhibits making their global, Asian or China debut, the highest number in the event's history.
In the medical equipment and healthcare zone, both first-time and returning exhibitors are showcasing products and seeking deeper access to the Chinese market.
For Biosan AS, a Norwegian nutrition and health supplement brand, this year marks its CIIE debut. The company is using the Shanghai showcase to roll out seven new products for the Asian market, betting that China's rapidly expanding health sector offers the right entry point.
"This is our first time to attend the CIIE. We are introducing seven new launches to the Asian markets at this exhibition. We think the Chinese market is a really fast-growing health market, it's a great place for us to start to show the products to the Asian consumers," said a representative of Biosan AS.
For returning exhibitors, the expo has delivered tangible market growth and reinforced their confidence in deepening their presence in China.
"So we have been to CIIE many times. It definitely helps a lot as a U.S. brand to enter the Chinese market and we really appreciate the opportunities that China opening-up policies has brought us," said a U.S. exhibitor.
Another exhibitor, back for a second year, described a three- to five-fold revenue increase after its first CIIE appearance.
"We first attended the CIIE last year, and our brand's revenue grew three- to five-fold. We hope the expo will help us further expand our brand influence, win more orders and partnerships. We are also working with universities on the Chinese mainland on joint research to advance industry-academia-research integration," said the exhibitor.
Several foreign companies said that their operations in China are moving beyond simply importing overseas products: they are ramping up production investment, co-building clinical research programs and assembling fuller industrial ecosystems on the ground.
"These technologies are being rolled out from our China factories, based in the Yangtze River Delta. We are very optimistic about the Chinese market and are continuing to invest across various aspects and pursue ongoing technological iteration," said an exhibitor.
Global firms eye China's fast-growing health market at 9th CIIE
