According to China's Ministry of Ecology and Environment, in addition to the existing power industry, China will include key emission industries such as steel, aluminum, and cement into the national carbon trading market by the end of this year.

The move is to further improve the carbon pricing mechanism and accelerate the establishment of a carbon footprint management system. The decision was in line with market expectations.

Huang Runqiu, the Minister, said that China will focus on three aspects to accelerate green and low-carbon development. First, actively develop green productivity; second, actively respond to climate change; and third, actively participate in global climate governance.