{"content":"<div class=\"cards\">\n    <ul class=\"cards__list cards__list--grid--one\">\n                                    <li class=\"cards__item\">\n                    <div class=\"card-content-meta\">\n                        <div class=\"card-content-meta__inner\">\n                            <div class=\"card-content-meta__content\">\n                                <h2 class=\"card-content-meta__title\">\n                                    <a class=\"card-content-meta__title-link\"\n                                       href=\"https:\/\/policycn.com\/public\/commentaries\/two-sessions-representatives-on-carbon-footprints-and-the-national-carbon-market-35699\">\n                                        Two Sessions representatives on carbon footprints and the national carbon market\n                                    <\/a>\n                                                                    <\/h2>\n                                <div\n                                    class=\"card-content-meta__excerpt card-content-meta__excerpt--black card-content-meta__excerpt--black card-content-meta__excerpt--mbnone content-format content-format--minmarg js-tracker-small\"\n                                    id=\"js-tracker-content-small-35699\">\n                                    <p><em><strong>context:&nbsp;<\/strong>With <\/em><em>carbon set to be a major factor in global trade, ensuring international recognition of carbon emissions accounting has become increasingly important. The 2024 Government Work Report reiterated the importance of improving carbon accounting capabilities and launching extensive carbon footprint management. More regulations are expected as key export industries <a href=\"https:\/\/policycn.com\/commentaries\/green-electricity-certificates-not-enough-to-meet-eu-battery-regulations-34886\">face pressure<\/a> from the EU and US.&nbsp;<\/em><\/p>\n\n                                <\/div>\n                                <div\n                                    class=\"card-content-meta__excerpt card-content-meta__excerpt--black card-content-meta__excerpt--dnone content-format content-format--minmarg js-tracker-all\"\n                                    id=\"js-tracker-content-all-35699\" data-height=\"\">\n                                    <p><em><strong>context:&nbsp;<\/strong>With <\/em><em>carbon set to be a major factor in global trade, ensuring international recognition of carbon emissions accounting has become increasingly important. The 2024 Government Work Report reiterated the importance of improving carbon accounting capabilities and launching extensive carbon footprint management. More regulations are expected as key export industries <a href=\"https:\/\/policycn.com\/commentaries\/green-electricity-certificates-not-enough-to-meet-eu-battery-regulations-34886\">face pressure<\/a> from the EU and US.&nbsp;<\/em><\/p>\n<p>Representatives at this year&rsquo;s Two Sessions emphasised the importance of improving data quality in the national carbon market, establishing continuous carbon monitoring and improving the product carbon footprint system.&nbsp;<\/p>\n<p>Wen Shangang \u6e29\u67a2\u521a China Huaneng Group chairman outlined key issues&nbsp;<\/p>\n<ul>\n<li>PRC carbon measurement, standard and certification systems are relatively weak&nbsp;\n<ul>\n<li>the US and EU have already successfully implemented &lsquo;carbon tariffs&rsquo; and access threshold policies&nbsp;<\/li>\n<li>indirect emissions from electricity account for a high proportion of the carbon footprint of PRC products&nbsp;\n<ul>\n<li>accounting requires detailed grid emission factor data, yet national average emission factors do not account for regional differences&nbsp;<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<\/li>\n<li>32 certification agencies recognised by the EU are all European or US companies\n<ul>\n<li>increased certification costs and wait times for export products such as batteries, photovoltaics and NEVs (new energy vehicles)<\/li>\n<\/ul>\n<\/li>\n<li>indirect accounting methods are used for key industries\n<ul>\n<li>lack of real-time traceability and potential for human interference&nbsp;<\/li>\n<\/ul>\n<\/li>\n<li>carbon footprint database not yet established&nbsp;\n<ul>\n<li>calculations generally use EU databases which deviate from China&rsquo;s actual carbon emissions&nbsp;<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<p>In addition to improving data quality and reporting efficiency, Wen suggested&nbsp;<\/p>\n<ul>\n<li>expanding coverage of carbon monitoring pilot industries and increasing participating firms<\/li>\n<li>improving monitoring data quality control and evaluation system&nbsp;<\/li>\n<li>accelerating construction of continuous carbon emissions monitoring and incorporating it into the carbon market emissions accounting system<\/li>\n<\/ul>\n<p>Xue Jiping \u859b\u7ee7\u5e73 Zhongtian Technology chair noted that there are very few domestic third-party certification agencies with international recognition. The PRC should standardise development of relevant Chinese institutions and form a group of institutional brands with international influence and authority so that domestic companies can carry out carbon footprint certification nearby, Xue argued. &nbsp;<\/p>\n<p>Cao Renxian \u66f9\u4ec1\u8d24 Sungrow chair made several suggestions to promote sustainable development of the national carbon market and reduce the &lsquo;carbon tax&rsquo; risk of export enterprises, including &nbsp;<\/p>\n<ul>\n<li>expanding carbon market coverage beyond the power industry&nbsp;<\/li>\n<li>increasing CCER (China certified emissions reduction) scheme supply through release of additional project methodologies, such as&nbsp;\n<ul>\n<li>grassland carbon sequestration&nbsp;<\/li>\n<li>charging pile green electricity<\/li>\n<li>optical storage and charging<\/li>\n<li>green hydrogen&nbsp;<\/li>\n<\/ul>\n<\/li>\n<li>encouraging private market entities to participate in the voluntary emission reduction trading market&nbsp;<\/li>\n<\/ul>\n\n                                <\/div>\n                                <div class=\"card-content-meta__footer\">\n                                    <a class=\"list-block__item__more list-block__item__more--collapse js-tracker-view-more \"\n                                       data-id=\"35699\" data-action=\"1\"\n                                       href=\"https:\/\/policycn.com\/public\/commentaries\/two-sessions-representatives-on-carbon-footprints-and-the-national-carbon-market-35699\">view more<\/a>\n                                    <div\n                                        class=\"list-block__item__date\">06 Mar 2024<\/div>\n                                <\/div>\n                            <\/div>\n                            <div class=\"meta card-content-meta__meta\">\n                                <ul class=\"meta__list\">\n                                                                            <li class=\"meta__item\">\n                                            <h4 class=\"meta__title\">Source<\/h4>\n                                            <div class=\"meta__content\">\n                                                <div class=\"meta__wrapper-link\">\n                                                                                                                                                                                                                                        <a href=\"https:\/\/www.caixin.com\/2024-03-06\/102172563.html\"\n                                                                   class=\"meta__link\">Caixin<\/a><br>\n                                                                                                                                                                                                                        <\/div>\n                                            <\/div>\n                                        <\/li>\n                                                                                                            <li class=\"meta__item\">\n                                        <h4 class=\"meta__title\">Sectors<\/h4>\n                                        <div class=\"document__sectors list-block__sectors js-sectorsParent\">\n                                                                                            <div class=\"document__sector document__sector--min js-sectors\n                                                     linked js-newSector-filter \"\n                                                     id=\"384\">carbon market<\/div>\n                                                                                            <div class=\"document__sector document__sector--min js-sectors\n                                                     disabled \"\n                                                     id=\"385\">green finance<\/div>\n                                                                                        <div\n                                                class=\"document__sector document__sector--rounded document__sector--min js-showSectors\">\n                                                ...\n                                            <\/div>\n                                        <\/div>\n                                    <\/li>\n                                                                    <\/ul>\n                                <div class=\"meta__addtofavorite\">\n                                                                    <\/div>\n                            <\/div>\n                        <\/div>\n                    <\/div>\n                <\/li>\n                            <li class=\"cards__item\">\n                    <div class=\"card-content-meta\">\n                        <div class=\"card-content-meta__inner\">\n                            <div class=\"card-content-meta__content\">\n                                <h2 class=\"card-content-meta__title\">\n                                    <a class=\"card-content-meta__title-link\"\n                                       href=\"https:\/\/policycn.com\/public\/commentaries\/china-certified-emission-reduction-scheme-officially-restarts-33974\">\n                                        China certified emission reduction scheme officially restarts\n                                    <\/a>\n                                                                    <\/h2>\n                                <div\n                                    class=\"card-content-meta__excerpt card-content-meta__excerpt--black card-content-meta__excerpt--black card-content-meta__excerpt--mbnone content-format content-format--minmarg js-tracker-small\"\n                                    id=\"js-tracker-content-small-33974\">\n                                    <p><em><strong>context: <\/strong>The CCER (China Certified Emission Reduction) scheme was paused in 2017 due to low trading volume and a lack of standardisation among projects. Relaunch follows the issuance of&nbsp;<a href=\"https:\/\/policycn.com\/commentaries\/ccer-restart-takes-another-step-updated-version-of-foundational-system-incoming-26974https:\/\/policycn.com\/commentaries\/ccer-restart-takes-another-step-updated-version-of-foundational-system-incoming-26974\">a series of guidelines<\/a> designed to enhance regulatory oversight. Currently, the trading market is accessible to projects in <a href=\"https:\/\/policycn.com\/commentaries\/first-set-of-carbon-offset-methods-to-include-forestry-mangroves-offshore-wind-and-solar-thermal-power-30356\">four primary sectors:<\/a> forestry, mangrove planting, solar thermal and offshore wind. It remains to be seen whether further updates will arrise on cross-border trading or expanding eligible projects.&nbsp;<\/em><\/p>\n\n                                <\/div>\n                                <div\n                                    class=\"card-content-meta__excerpt card-content-meta__excerpt--black card-content-meta__excerpt--dnone content-format content-format--minmarg js-tracker-all\"\n                                    id=\"js-tracker-content-all-33974\" data-height=\"\">\n                                    <p><em><strong>context: <\/strong>The CCER (China Certified Emission Reduction) scheme was paused in 2017 due to low trading volume and a lack of standardisation among projects. Relaunch follows the issuance of&nbsp;<a href=\"https:\/\/policycn.com\/commentaries\/ccer-restart-takes-another-step-updated-version-of-foundational-system-incoming-26974https:\/\/policycn.com\/commentaries\/ccer-restart-takes-another-step-updated-version-of-foundational-system-incoming-26974\">a series of guidelines<\/a> designed to enhance regulatory oversight. Currently, the trading market is accessible to projects in <a href=\"https:\/\/policycn.com\/commentaries\/first-set-of-carbon-offset-methods-to-include-forestry-mangroves-offshore-wind-and-solar-thermal-power-30356\">four primary sectors:<\/a> forestry, mangrove planting, solar thermal and offshore wind. It remains to be seen whether further updates will arrise on cross-border trading or expanding eligible projects.&nbsp;<\/em><\/p>\n<p>The national voluntary CCER (China Certified Emission Reduction) trading market was officially restarted in Beijing on 22 January 2024, reports <em>Caixin<\/em>. Ding Xuexiang \u4e01\u859b\u7965 State Council vice-premier attended the launch ceremony.&nbsp;<\/p>\n<p>The first transaction came from CNOOC (China National Offshore Oil Company) Gas and Power Group, purchasing the equivalent of 250,000 tonnes in emissions reductions. As a buyer in the CCER market, CNOOC can offset one tonne of emissions by purchasing one tonne of emissions reductions. The emissions traded by the company will be used to fulfil the CO2 obligations of its thermal power companies in the third compliance cycle.&nbsp;<\/p>\n<p>The buying price of CCER in January 2024 is expected to be around C&yen;61.32\/tonne, according to Fudan University Sustainable Development Research Centre. Currently participation in the national carbon market is restricted to the electricity generation industry. During the third cycle, cement and electrolytic aluminium, two industries with relatively simple processes and data accounting methods, are expected to take the lead in expanding capacity, reports <em>Caixin<\/em>.&nbsp;<\/p>\n\n                                <\/div>\n                                <div class=\"card-content-meta__footer\">\n                                    <a class=\"list-block__item__more list-block__item__more--collapse js-tracker-view-more \"\n                                       data-id=\"33974\" data-action=\"1\"\n                                       href=\"https:\/\/policycn.com\/public\/commentaries\/china-certified-emission-reduction-scheme-officially-restarts-33974\">view more<\/a>\n                                    <div\n                                        class=\"list-block__item__date\">23 Jan 2024<\/div>\n                                <\/div>\n                            <\/div>\n                            <div class=\"meta card-content-meta__meta\">\n                                <ul class=\"meta__list\">\n                                                                            <li class=\"meta__item\">\n                                            <h4 class=\"meta__title\">Source<\/h4>\n                                            <div class=\"meta__content\">\n                                                <div class=\"meta__wrapper-link\">\n                                                                                                                                                                                                                                        <a href=\"https:\/\/www.caixin.com\/2024-01-23\/102159320.html\"\n                                                                   class=\"meta__link\">Caixin<\/a><br>\n                                                                                                                                                                                                                                                                                                                                                            <a href=\"http:\/\/www.news.cn\/fortune\/20240123\/00c59f975d784109a1fe4fb7d35db573\/c.html\"\n                                                                   class=\"meta__link\">Xinhua<\/a><br>\n                                                                                                                                                                                                                        <\/div>\n                                            <\/div>\n                                        <\/li>\n                                                                                                            <li class=\"meta__item\">\n                                        <h4 class=\"meta__title\">Sectors<\/h4>\n                                        <div class=\"document__sectors list-block__sectors js-sectorsParent\">\n                                                                                            <div class=\"document__sector document__sector--min js-sectors\n                                                     linked js-newSector-filter \"\n                                                     id=\"351\">gas<\/div>\n                                                                                            <div class=\"document__sector document__sector--min js-sectors\n                                                     linked js-newSector-filter \"\n                                                     id=\"352\">petroleum<\/div>\n                                                                                            <div class=\"document__sector document__sector--min js-sectors\n                                                     linked js-newSector-filter \"\n                                                     id=\"353\">coal<\/div>\n                                                                                            <div class=\"document__sector document__sector--min js-sectors\n                                                     linked js-newSector-filter \"\n                                                     id=\"363\">electricity<\/div>\n                                                                                            <div class=\"document__sector document__sector--min js-sectors\n                                                     linked js-newSector-filter \"\n                                                     id=\"378\">forests<\/div>\n                                                                                            <div class=\"document__sector document__sector--min js-sectors\n                                                     linked js-newSector-filter \"\n                                                     id=\"382\">carbon neutrality<\/div>\n                                                                                            <div class=\"document__sector document__sector--min js-sectors\n                                                     linked js-newSector-filter \"\n                                                     id=\"384\">carbon market<\/div>\n                                                                                            <div class=\"document__sector document__sector--min js-sectors\n                                                     disabled \"\n                                                     id=\"385\">green finance<\/div>\n                                                                                        <div\n                                                class=\"document__sector document__sector--rounded document__sector--min js-showSectors\">\n                                                ...\n                                            <\/div>\n                                        <\/div>\n                                    <\/li>\n                                                                    <\/ul>\n                                <div class=\"meta__addtofavorite\">\n                                                                    <\/div>\n                            <\/div>\n                        <\/div>\n                    <\/div>\n                <\/li>\n                            <li class=\"cards__item\">\n                    <div class=\"card-content-meta\">\n                        <div class=\"card-content-meta__inner\">\n                            <div class=\"card-content-meta__content\">\n                                <h2 class=\"card-content-meta__title\">\n                                    <a class=\"card-content-meta__title-link\"\n                                       href=\"https:\/\/policycn.com\/public\/commentaries\/global-south-in-the-fight-against-climate-change-32216\">\n                                        Global South in the fight against climate change\n                                    <\/a>\n                                                                    <\/h2>\n                                <div\n                                    class=\"card-content-meta__excerpt card-content-meta__excerpt--black card-content-meta__excerpt--black card-content-meta__excerpt--mbnone content-format content-format--minmarg js-tracker-small\"\n                                    id=\"js-tracker-content-small-32216\">\n                                    <p><em><strong>context:<\/strong> Ahead of COP28 (United Nations climate conference), Chen Ying \u9648\u8fce Chinese Academy of Social Sciences, underscores China's commitment to global development and climate action through the 'three major global initiatives', and hails the importance of cooperation and inclusive development in achieving sustainable outcomes.<\/em><\/p>\n\n                                <\/div>\n                                <div\n                                    class=\"card-content-meta__excerpt card-content-meta__excerpt--black card-content-meta__excerpt--dnone content-format content-format--minmarg js-tracker-all\"\n                                    id=\"js-tracker-content-all-32216\" data-height=\"\">\n                                    <p><em><strong>context:<\/strong> Ahead of COP28 (United Nations climate conference), Chen Ying \u9648\u8fce Chinese Academy of Social Sciences, underscores China's commitment to global development and climate action through the 'three major global initiatives', and hails the importance of cooperation and inclusive development in achieving sustainable outcomes.<\/em><\/p>\n<p>Chen Ying \u9648\u8fce Chinese Academy of Social Sciences discusses China's proposal for the 'three major global initiatives' aimed at promoting global development and addressing climate change within the Party's framework of 'building a community with a shared future for mankind'.<\/p>\n<p>The initiatives include speeding up rollout of the UN 2030 SDGs (sustainable development goals), jointly promoting global development to a new stage of balance, coordination and inclusiveness and adhering to common, comprehensive and inclusive development. She stresses cooperative and sustainable security respecting the diversity of world civilisations, noting this has gained widespread support from the Global South.<\/p>\n<p>She highlights that addressing climate change is a vital component of the UN SDGs and a key focus for global development initiatives. She suggests that under the framework of the 'three major global initiatives', the Global South can only achieve win-win cooperation by working together to jointly address climate change and leveraging the initiative and creativity of all countries.&nbsp;<\/p>\n\n                                <\/div>\n                                <div class=\"card-content-meta__footer\">\n                                    <a class=\"list-block__item__more list-block__item__more--collapse js-tracker-view-more \"\n                                       data-id=\"32216\" data-action=\"1\"\n                                       href=\"https:\/\/policycn.com\/public\/commentaries\/global-south-in-the-fight-against-climate-change-32216\">view more<\/a>\n                                    <div\n                                        class=\"list-block__item__date\">27 Nov 2023<\/div>\n                                <\/div>\n                            <\/div>\n                            <div class=\"meta card-content-meta__meta\">\n                                <ul class=\"meta__list\">\n                                                                            <li class=\"meta__item\">\n                                            <h4 class=\"meta__title\">Source<\/h4>\n                                            <div class=\"meta__content\">\n                                                <div class=\"meta__wrapper-link\">\n                                                                                                                                                                                                                                        <a href=\"https:\/\/mp.weixin.qq.com\/s\/Y1wJtGaH_Yq8oNsLmngAnw\"\n                                                                   class=\"meta__link\">Weixin<\/a><br>\n                                                                                                                                                                                                                        <\/div>\n                                            <\/div>\n                                        <\/li>\n                                                                                                            <li class=\"meta__item\">\n                                        <h4 class=\"meta__title\">Sectors<\/h4>\n                                        <div class=\"document__sectors list-block__sectors js-sectorsParent\">\n                                                                                            <div class=\"document__sector document__sector--min js-sectors\n                                                     linked js-newSector-filter \"\n                                                     id=\"356\">renewables<\/div>\n                                                                                            <div class=\"document__sector document__sector--min js-sectors\n                                                     linked js-newSector-filter \"\n                                                     id=\"382\">carbon neutrality<\/div>\n                                                                                            <div class=\"document__sector document__sector--min js-sectors\n                                                     linked js-newSector-filter \"\n                                                     id=\"384\">carbon market<\/div>\n                                                                                            <div class=\"document__sector document__sector--min js-sectors\n                                                     disabled \"\n                                                     id=\"385\">green finance<\/div>\n                                                                                        <div\n                                                class=\"document__sector document__sector--rounded document__sector--min js-showSectors\">\n                                                ...\n                                            <\/div>\n                                        <\/div>\n                                    <\/li>\n                                                                    <\/ul>\n                                <div class=\"meta__addtofavorite\">\n                                                                    <\/div>\n                            <\/div>\n                        <\/div>\n                    <\/div>\n                <\/li>\n                            <li class=\"cards__item\">\n                    <div class=\"card-content-meta\">\n                        <div class=\"card-content-meta__inner\">\n                            <div class=\"card-content-meta__content\">\n                                <h2 class=\"card-content-meta__title\">\n                                    <a class=\"card-content-meta__title-link\"\n                                       href=\"https:\/\/policycn.com\/public\/commentaries\/international-framework-for-digital-economy-and-green-development-launched-in-bri-forum-30640\">\n                                        international framework for digital economy and green development launched in BRI forum\n                                    <\/a>\n                                                                    <\/h2>\n                                <div\n                                    class=\"card-content-meta__excerpt card-content-meta__excerpt--black card-content-meta__excerpt--black card-content-meta__excerpt--mbnone content-format content-format--minmarg js-tracker-small\"\n                                    id=\"js-tracker-content-small-30640\">\n                                    <p><em><strong>context<\/strong>: Together with connectivity, digital economy and green development are identified to be the three focal points of the high-level forums in this year's Third BRI (Belt and Road Initiative) International Cooperation Forum. During the forum on trade connectivity on 18 Oct 2023, the PRC and 35 BRI countries jointly published the 'Initiative on International Trade and Economic Cooperation Framework for Digital Economy and Green Development' (the Initiative). As these two themes are identified to be major drivers in global economic transformation and growth, they will likely remain top priorities for the BRI.<\/em><\/p>\n\n                                <\/div>\n                                <div\n                                    class=\"card-content-meta__excerpt card-content-meta__excerpt--black card-content-meta__excerpt--dnone content-format content-format--minmarg js-tracker-all\"\n                                    id=\"js-tracker-content-all-30640\" data-height=\"\">\n                                    <p><em><strong>context<\/strong>: Together with connectivity, digital economy and green development are identified to be the three focal points of the high-level forums in this year's Third BRI (Belt and Road Initiative) International Cooperation Forum. During the forum on trade connectivity on 18 Oct 2023, the PRC and 35 BRI countries jointly published the 'Initiative on International Trade and Economic Cooperation Framework for Digital Economy and Green Development' (the Initiative). As these two themes are identified to be major drivers in global economic transformation and growth, they will likely remain top priorities for the BRI.<\/em><\/p>\n<p>MofCOM (Ministry of Commerce) shared the latest developments of the Initiative, including<\/p>\n<ul>\n<li>characteristics\n<ul>\n<li>autonomous, voluntary and non-binding<\/li>\n<li>flexible and pragmatic<\/li>\n<li>constructed by multiple parties<\/li>\n<li>open for development<\/li>\n<li>aligned with Beijing's Global Development Initiative, African Union's Agenda 2063, ASEAN Connectivity 2025 and the UN 2030 Agenda for Sustainable Development<\/li>\n<\/ul>\n<\/li>\n<li>seven pillars of cooperation\n<ul>\n<li>such as&nbsp;\n<ul>\n<li>creating an open and secure environment<\/li>\n<li>upgrading trade facilitation<\/li>\n<li>bridging the digital divide<\/li>\n<li>enhancing consumer trust<\/li>\n<li>creating a policy environment for green development<\/li>\n<li>strengthening trade cooperation for green development<\/li>\n<li>encouraging exchanges of green technologies, services and investment cooperation<\/li>\n<\/ul>\n<\/li>\n<li>the seven pillars have proposed practical areas of cooperation, for example\n<ul>\n<li>encouraging the exchange of policies, rules and standards<\/li>\n<li>creating a favourable development environment<\/li>\n<li>supporting the use of electronic bills of lading and the development of e-payment<\/li>\n<li>strengthening investment in digital infrastructures<\/li>\n<li>exploring ways of resolving cross-border disputes<\/li>\n<li>strengthening the protection of online consumers' rights and interests<\/li>\n<li>promoting the improvement of sustainable consumption\/production and accelerating the transition to a low-carbon economy<\/li>\n<li>promoting the development of the global supply chain<\/li>\n<li>encouraging cooperation in industries such as clean energy, new energy vehicles, green technologies and services<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<\/li>\n<li>directions for future development\n<ul>\n<li>launching cooperation projects<\/li>\n<li>building a cooperation network with local enterprises<\/li>\n<li>using trade exhibitions and forums to promote exchanges<\/li>\n<li>capacity building and technical support to be led by international organisations<\/li>\n<li>building a long-term cooperation mechanism that comprises meetings at various levels<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n\n                                <\/div>\n                                <div class=\"card-content-meta__footer\">\n                                    <a class=\"list-block__item__more list-block__item__more--collapse js-tracker-view-more \"\n                                       data-id=\"30640\" data-action=\"1\"\n                                       href=\"https:\/\/policycn.com\/public\/commentaries\/international-framework-for-digital-economy-and-green-development-launched-in-bri-forum-30640\">view more<\/a>\n                                    <div\n                                        class=\"list-block__item__date\">18 Oct 2023<\/div>\n                                <\/div>\n                            <\/div>\n                            <div class=\"meta card-content-meta__meta\">\n                                <ul class=\"meta__list\">\n                                                                            <li class=\"meta__item\">\n                                            <h4 class=\"meta__title\">Source<\/h4>\n                                            <div class=\"meta__content\">\n                                                <div class=\"meta__wrapper-link\">\n                                                                                                                                                                                                                                        <a href=\"http:\/\/www.mofcom.gov.cn\/article\/xwfb\/xwsjfzr\/202310\/20231003446793.shtml\"\n                                                                   class=\"meta__link\">Ministry of Commerce (1)<\/a>\n                                                                <br>\n                                                                                                                                                                                                                                                <a href=\"http:\/\/www.mofcom.gov.cn\/article\/xwfb\/xwrcxw\/202310\/20231003446762.shtml\"\n                                                                   class=\"meta__link\">Ministry of Commerce (2)<\/a>\n                                                                <br>\n                                                                                                                                                                                                                        <\/div>\n                                            <\/div>\n                                        <\/li>\n                                                                                                            <li class=\"meta__item\">\n                                        <h4 class=\"meta__title\">Sectors<\/h4>\n                                        <div class=\"document__sectors list-block__sectors js-sectorsParent\">\n                                                                                            <div class=\"document__sector document__sector--min js-sectors\n                                                     linked js-newSector-filter \"\n                                                     id=\"113\">trade agreements<\/div>\n                                                                                            <div class=\"document__sector document__sector--min js-sectors\n                                                     linked js-newSector-filter \"\n                                                     id=\"119\">cross-border e-commerce<\/div>\n                                                                                            <div class=\"document__sector document__sector--min js-sectors\n                                                     linked js-newSector-filter \"\n                                                     id=\"330\">green tech<\/div>\n                                                                                            <div class=\"document__sector document__sector--min js-sectors\n                                                     linked js-newSector-filter \"\n                                                     id=\"371\">ecological civilisation<\/div>\n                                                                                            <div class=\"document__sector document__sector--min js-sectors\n                                                     linked js-newSector-filter \"\n                                                     id=\"382\">carbon neutrality<\/div>\n                                                                                            <div class=\"document__sector document__sector--min js-sectors\n                                                     disabled \"\n                                                     id=\"385\">green finance<\/div>\n                                                                                        <div\n                                                class=\"document__sector document__sector--rounded document__sector--min js-showSectors\">\n                                                ...\n                                            <\/div>\n                                        <\/div>\n                                    <\/li>\n                                                                    <\/ul>\n                                <div class=\"meta__addtofavorite\">\n                                                                    <\/div>\n                            <\/div>\n                        <\/div>\n                    <\/div>\n                <\/li>\n                            <li class=\"cards__item\">\n                    <div class=\"card-content-meta\">\n                        <div class=\"card-content-meta__inner\">\n                            <div class=\"card-content-meta__content\">\n                                <h2 class=\"card-content-meta__title\">\n                                    <a class=\"card-content-meta__title-link\"\n                                       href=\"https:\/\/policycn.com\/public\/commentaries\/green-electricity-certificates-to-cover-all-renewables-28273\">\n                                        green electricity certificates to cover all renewables\n                                    <\/a>\n                                                                    <\/h2>\n                                <div\n                                    class=\"card-content-meta__excerpt card-content-meta__excerpt--black card-content-meta__excerpt--black card-content-meta__excerpt--mbnone content-format content-format--minmarg js-tracker-small\"\n                                    id=\"js-tracker-content-small-28273\">\n                                    <p><em><strong>context:<\/strong> GECs (Green Electricity Certificates) are the PRC's version of renewable energy certificates, but until the release of a new Notice by several potential supervisory agencies, their role in promoting renewable energy electricity has been unclear.&nbsp;<\/em><\/p>\n\n                                <\/div>\n                                <div\n                                    class=\"card-content-meta__excerpt card-content-meta__excerpt--black card-content-meta__excerpt--dnone content-format content-format--minmarg js-tracker-all\"\n                                    id=\"js-tracker-content-all-28273\" data-height=\"\">\n                                    <p><em><strong>context:<\/strong> GECs (Green Electricity Certificates) are the PRC's version of renewable energy certificates, but until the release of a new Notice by several potential supervisory agencies, their role in promoting renewable energy electricity has been unclear.&nbsp;<\/em><\/p>\n<p>NDRC (National Development and Reform Commission), MoF (Ministry of Finance) and NEA (National Energy Administration) jointly issued&nbsp;<a href=\"https:\/\/policycn.com\/policies\/promoting-renewable-energy-electricity-through-full-coverage-of-green-power-certificates-48840\">&lsquo;Notice on promoting renewable energy electricity through full coverage of GECs (green electricity certificates)&rsquo;<\/a> on 3 August. The new policy makes it clear that GECs (Green Electricity Certificates) will be the exclusive mechanism for verifying renewable power consumption within the country. Nonetheless, the directive gives rise to a potential challenge regarding the integration of GECs with the CCER (China Certified Emissions Reduction) scheme, which also encompasses renewable projects and is expected to recommence&nbsp;<a href=\"https:\/\/policycn.com\/commentaries\/ccer-restart-takes-another-step-updated-version-of-foundational-system-incoming-26974\">later this year.<\/a> Further measures can be expected to prevent <a href=\"https:\/\/policycn.com\/policy-briefs\/22-09-05-enewable-energy-post-subsidies-keeping-the-momentum-going\">dual counting and ensure transparency<\/a>. The new policy clarifies that the GEC scheme will expand from only covering utility-scale solar and on-shore wind projects to now cover the whole renewable power generation sector, including&nbsp;<\/p>\n<ul>\n<li>decentralised and offshore wind power&nbsp;<\/li>\n<li>distributed PV and solar thermal power&nbsp;<\/li>\n<li>conventional hydropower&nbsp;<\/li>\n<li>biomass, geothermal and wave power&nbsp;<\/li>\n<\/ul>\n<p>The Notice stipulates that GECs can now only be traded once from seller to buyer to prevent speculation. Hydropower projects connected to the grid before 1 Jan 2023 will not be able to generate tradeable GECs, but new hydropower projects connected to the grid after 1 January will be able to generate tradeable GECs on a merchant basis. Trading platforms for GECs include the China Green Power Certificate Trading Platform, Beijing Power Exchange and Guangzhou Power Exchange, with further expansion to other nationally approved trading platforms encouraged.&nbsp;<\/p>\n<p>Projects that enjoy central financial subsidies <a href=\"https:\/\/policycn.com\/commentaries\/reducing-reliance-on-subsidies-for-green-power-projects-24610\">will be able to sell GECs,<\/a> provided that the power is sold via the market and income from the transaction offsets the value of the subsidy received.&nbsp;<\/p>\n<p>Fostering consumer demand is expected to play a crucial role in the future development of the GEC market, as indicated by a representative from the China Electricity Council in a conversation with <em>Caixin<\/em>. While the GEC market used to operate on a 'voluntary subscription' basis, it is anticipated that it might transition to a 'rigid demand' model in the coming years. This shift could involve linking GEC transactions with <a href=\"https:\/\/policycn.com\/policies\/renewable-energy-consumption-responsibilities-2023-48856\">the assessment mechanism for renewable energy quotas.<\/a> Presently, all provinces bear the responsibility for achieving targets related to renewable power consumption. However, with the Notice clarifying that GECs are the only means of certifying green power consumption, this responsibility could potentially shift towards consumers.<\/p>\n<p>The Notice outlines five major tasks for supporting the GEC scheme, according to NDRC and NEA officials. These include &nbsp;<\/p>\n<ul>\n<li>fully supporting green power trading as a mid to long-term power trade where users can obtain both green power and GECs<\/li>\n<li>giving full play to the function of GECs that are tamper-proof, traceable and accurately identify renewable power consumption&nbsp;\n<ul>\n<li>implementing requirements for renewable energy consumption to not be included in the &lsquo;dual control&rsquo; of energy consumption and energy intensity&nbsp;<\/li>\n<\/ul>\n<\/li>\n<li>establishing green power consumption certification standards and identification systems&nbsp;<\/li>\n<li>linking up with the national carbon market&nbsp;\n<ul>\n<li>the Notice promotes further research on the connection and coordination of the GEC scheme with the National Carbon Market and the Voluntary Greenhouse Gas Emissions Reduction Trading Mechanism (i.e., the CCER)&nbsp;\n<ul>\n<li>the aim is to include GECs in the carbon market-related accounting system&nbsp;<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<\/li>\n<li>promoting international mutual recognition of GECs\n<ul>\n<li>the Notice clarifies that in principle, domestic renewable power projects can only apply for domestic GECs&nbsp;<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n\n                                <\/div>\n                                <div class=\"card-content-meta__footer\">\n                                    <a class=\"list-block__item__more list-block__item__more--collapse js-tracker-view-more \"\n                                       data-id=\"28273\" data-action=\"1\"\n                                       href=\"https:\/\/policycn.com\/public\/commentaries\/green-electricity-certificates-to-cover-all-renewables-28273\">view more<\/a>\n                                    <div\n                                        class=\"list-block__item__date\">04 Aug 2023<\/div>\n                                <\/div>\n                            <\/div>\n                            <div class=\"meta card-content-meta__meta\">\n                                <ul class=\"meta__list\">\n                                                                            <li class=\"meta__item\">\n                                            <h4 class=\"meta__title\">Source<\/h4>\n                                            <div class=\"meta__content\">\n                                                <div class=\"meta__wrapper-link\">\n                                                                                                                                                                                                                                        <a href=\"https:\/\/www.caixin.com\/2023-08-04\/102089776.html\"\n                                                                   class=\"meta__link\">Caixin<\/a><br>\n                                                                                                                                                                                                                                                                                                                                                            <a href=\"https:\/\/www.ndrc.gov.cn\/xxgk\/jd\/jd\/202308\/t20230803_1359098_ext.html\"\n                                                                   class=\"meta__link\">National Development and Reform Commission<\/a><br>\n                                                                                                                                                                                                                        <\/div>\n                                            <\/div>\n                                        <\/li>\n                                                                                                            <li class=\"meta__item\">\n                                        <h4 class=\"meta__title\">Sectors<\/h4>\n                                        <div class=\"document__sectors list-block__sectors js-sectorsParent\">\n                                                                                            <div class=\"document__sector document__sector--min js-sectors\n                                                     linked js-newSector-filter \"\n                                                     id=\"88\">energy transition<\/div>\n                                                                                            <div class=\"document__sector document__sector--min js-sectors\n                                                     linked js-newSector-filter \"\n                                                     id=\"356\">renewables<\/div>\n                                                                                            <div class=\"document__sector document__sector--min js-sectors\n                                                     linked js-newSector-filter \"\n                                                     id=\"357\">wind<\/div>\n                                                                                            <div class=\"document__sector document__sector--min js-sectors\n                                                     linked js-newSector-filter \"\n                                                     id=\"358\">hydro<\/div>\n                                                                                            <div class=\"document__sector document__sector--min js-sectors\n                                                     linked js-newSector-filter \"\n                                                     id=\"359\">solar<\/div>\n                                                                                            <div class=\"document__sector document__sector--min js-sectors\n                                                     linked js-newSector-filter \"\n                                                     id=\"363\">electricity<\/div>\n                                                                                            <div class=\"document__sector document__sector--min js-sectors\n                                                     linked js-newSector-filter \"\n                                                     id=\"364\">power sector reform<\/div>\n                                                                                            <div class=\"document__sector document__sector--min js-sectors\n                                                     linked js-newSector-filter \"\n                                                     id=\"368\">dual control<\/div>\n                                                                                            <div class=\"document__sector document__sector--min js-sectors\n                                                     linked js-newSector-filter \"\n                                                     id=\"384\">carbon market<\/div>\n                                                                                            <div class=\"document__sector document__sector--min js-sectors\n                                                     disabled \"\n                                                     id=\"385\">green finance<\/div>\n                                                                                        <div\n                                                class=\"document__sector document__sector--rounded document__sector--min js-showSectors\">\n                                                ...\n                                            <\/div>\n                                        <\/div>\n                                    <\/li>\n                                                                    <\/ul>\n                                <div class=\"meta__addtofavorite\">\n                                                                    <\/div>\n                            <\/div>\n                        <\/div>\n                    <\/div>\n                <\/li>\n                            <li class=\"cards__item\">\n                    <div class=\"card-content-meta\">\n                        <div class=\"card-content-meta__inner\">\n                            <div class=\"card-content-meta__content\">\n                                <h2 class=\"card-content-meta__title\">\n                                    <a class=\"card-content-meta__title-link\"\n                                       href=\"https:\/\/policycn.com\/public\/commentaries\/china-agrees-cop28-s-proposal-on-renewables-warrants-serious-consideration-27624\">\n                                        China agrees COP28's proposal on renewables warrants serious consideration\n                                    <\/a>\n                                                                    <\/h2>\n                                <div\n                                    class=\"card-content-meta__excerpt card-content-meta__excerpt--black card-content-meta__excerpt--black card-content-meta__excerpt--mbnone content-format content-format--minmarg js-tracker-small\"\n                                    id=\"js-tracker-content-small-27624\">\n                                    <p><em><strong>context:<\/strong> Ahead of COP28 in Dubai in Nov\/Dec 2023, the PRC and US are working on establishing a collaborative framework to address the pressing issue of climate change. After a prolonged period of minimal contact during the COVID-19 pandemic, Track II diplomatic dialogues have recently become reactivated, representing a commitment to fostering deeper ties in environmental cooperation. US climate envoy Kerry held meetings in Beijing on 16-19 July.<\/em><\/p>\n\n                                <\/div>\n                                <div\n                                    class=\"card-content-meta__excerpt card-content-meta__excerpt--black card-content-meta__excerpt--dnone content-format content-format--minmarg js-tracker-all\"\n                                    id=\"js-tracker-content-all-27624\" data-height=\"\">\n                                    <p><em><strong>context:<\/strong> Ahead of COP28 in Dubai in Nov\/Dec 2023, the PRC and US are working on establishing a collaborative framework to address the pressing issue of climate change. After a prolonged period of minimal contact during the COVID-19 pandemic, Track II diplomatic dialogues have recently become reactivated, representing a commitment to fostering deeper ties in environmental cooperation. US climate envoy Kerry held meetings in Beijing on 16-19 July.<\/em><\/p>\n<p>We need to accelerate the green and low-carbon transformation, and quickly form green production and lifestyles, stated Li Gao \u674e\u9ad8 MEE (Ministry of Ecology and Environment) Climate Change Department director-general at the &lsquo;China-US Climate Finance Track II Dialogue&rsquo; held on 21 July. He noted that in the face of the current difficulties in PRC-US relations, strengthening exchanges and promoting cooperation in the field of climate change is not only significant for the relations between the two countries but also for addressing global climate change.&nbsp;<\/p>\n<p>Li highlighted that the upcoming COP28 in Dubai will propose an initiative for renewable energy development goals. If global renewable energy is to develop further, then the PRC and the US should create a favourable environment for it, he stressed. The proposal should be seriously considered from the perspective of global interests and reflect on relevant policies, he said.<\/p>\n<p>The most active part of the PRC's economy is the development of technologies and industries closely related to climate change, photovoltaics, wind power, electric vehicles and energy storage, Li stressed. Responding to climate change not only protects the environment and climate but also promotes economic development, he noted. The PRC will organise a renewable energy theme day during COP28, he said.<\/p>\n<p>Regarding Kerry's visit to the PRC, Li said the two special envoys (Kerry and Xie Zhenhua) and their teams will continue to meet, conduct in-depth exchanges and promote PRC-US cooperation on climate change.<\/p>\n<p>Li further stated that the PRC expects<\/p>\n<ul>\n<li>developed countries to fulfil their US$100 bn commitment before COP28, clarify the doubling route for adaptation funding, and make a greater contribution to setting new collective quantitative funding targets after 2025<\/li>\n<li>COP28 to make a strong decision on the global adaptation goal, complete the construction of the loss and damage finance mechanism, and fully respond to the long-term calls of developing countries for financial, technical and capacity-building support needs<\/li>\n<\/ul>\n\n                                <\/div>\n                                <div class=\"card-content-meta__footer\">\n                                    <a class=\"list-block__item__more list-block__item__more--collapse js-tracker-view-more \"\n                                       data-id=\"27624\" data-action=\"1\"\n                                       href=\"https:\/\/policycn.com\/public\/commentaries\/china-agrees-cop28-s-proposal-on-renewables-warrants-serious-consideration-27624\">view more<\/a>\n                                    <div\n                                        class=\"list-block__item__date\">23 Jul 2023<\/div>\n                                <\/div>\n                            <\/div>\n                            <div class=\"meta card-content-meta__meta\">\n                                <ul class=\"meta__list\">\n                                                                            <li class=\"meta__item\">\n                                            <h4 class=\"meta__title\">Source<\/h4>\n                                            <div class=\"meta__content\">\n                                                <div class=\"meta__wrapper-link\">\n                                                                                                                                                                                                                                        <a href=\"https:\/\/www.21jingji.com\/article\/20230723\/herald\/140d78d446f1f1c7e89dae6b1262c570.html\"\n                                                                   class=\"meta__link\">21st Century Business Herald<\/a><br>\n                                                                                                                                                                                                                        <\/div>\n                                            <\/div>\n                                        <\/li>\n                                                                                                            <li class=\"meta__item\">\n                                        <h4 class=\"meta__title\">Sectors<\/h4>\n                                        <div class=\"document__sectors list-block__sectors js-sectorsParent\">\n                                                                                            <div class=\"document__sector document__sector--min js-sectors\n                                                     linked js-newSector-filter \"\n                                                     id=\"135\">UN<\/div>\n                                                                                            <div class=\"document__sector document__sector--min js-sectors\n                                                     linked js-newSector-filter \"\n                                                     id=\"154\">US\/Canada<\/div>\n                                                                                            <div class=\"document__sector document__sector--min js-sectors\n                                                     linked js-newSector-filter \"\n                                                     id=\"382\">carbon neutrality<\/div>\n                                                                                            <div class=\"document__sector document__sector--min js-sectors\n                                                     disabled \"\n                                                     id=\"385\">green finance<\/div>\n                                                                                        <div\n                                                class=\"document__sector document__sector--rounded document__sector--min js-showSectors\">\n                                                ...\n                                            <\/div>\n                                        <\/div>\n                                    <\/li>\n                                                                    <\/ul>\n                                <div class=\"meta__addtofavorite\">\n                                                                    <\/div>\n                            <\/div>\n                        <\/div>\n                    <\/div>\n                <\/li>\n                            <li class=\"cards__item\">\n                    <div class=\"card-content-meta\">\n                        <div class=\"card-content-meta__inner\">\n                            <div class=\"card-content-meta__content\">\n                                <h2 class=\"card-content-meta__title\">\n                                    <a class=\"card-content-meta__title-link\"\n                                       href=\"https:\/\/policycn.com\/public\/commentaries\/education-deemed-crucial-for-a-green-future\">\n                                        education deemed crucial for a green future\n                                    <\/a>\n                                                                    <\/h2>\n                                <div\n                                    class=\"card-content-meta__excerpt card-content-meta__excerpt--black card-content-meta__excerpt--black card-content-meta__excerpt--mbnone content-format content-format--minmarg js-tracker-small\"\n                                    id=\"js-tracker-content-small-23992\">\n                                    <p><em><strong>context<\/strong>: With commitments to carbon&nbsp;neutrality reaffirmed at <a href=\"..\/..\/..\/commentaries\/xi-reaffirms-carbon-neutrality-policy-at-20th-party-congress\/\">the 20th Party Congress,<\/a>&nbsp;Beijing aims to spur momentum in decarbonisation, this time, by highlighting the role of education in top-level design. This is a necessary step toward getting the younger generation on board for a sustainable future.&nbsp;<\/em><em><span style=\"font-weight: 400;\"><\/span><\/em><\/p>\n\n                                <\/div>\n                                <div\n                                    class=\"card-content-meta__excerpt card-content-meta__excerpt--black card-content-meta__excerpt--dnone content-format content-format--minmarg js-tracker-all\"\n                                    id=\"js-tracker-content-all-23992\" data-height=\"\">\n                                    <p><em><strong>context<\/strong>: With commitments to carbon&nbsp;neutrality reaffirmed at <a href=\"..\/..\/..\/commentaries\/xi-reaffirms-carbon-neutrality-policy-at-20th-party-congress\/\">the 20th Party Congress,<\/a>&nbsp;Beijing aims to spur momentum in decarbonisation, this time, by highlighting the role of education in top-level design. This is a necessary step toward getting the younger generation on board for a sustainable future.&nbsp;<\/em><em><span style=\"font-weight: 400;\"><\/span><\/em> On 8 November, the Ministry of Education unveiled a roadmap for integrating green and low-carbon development with the education system. The national plan outlines<\/p>\n<ul>\n<li>key targets\n<ul>\n<li>by 2025\n<ul>\n<li>green and low-carbon awareness developed among students of all levels of education<\/li>\n<li>programs and courses related to&nbsp;carbon peaking and carbon neutrality set up in higher institutions<\/li>\n<\/ul>\n<\/li>\n<li>by 2030\n<ul>\n<li>students develop&nbsp;habits of low-carbon lifestyle<\/li>\n<li>build a multilevel education system guided by green and low-carbon development<\/li>\n<li>establish world-class programs and research institutes for green and low-carbon development<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<\/li>\n<li>integrating green and low-carbon development with education\n<ul>\n<li>curriculum and textbooks\n<ul>\n<li>diversifying education approaches and campaigns<\/li>\n<li>provide tailored education for students at different stages\n<ul>\n<li>pre-primary education<\/li>\n<li>compulsory and high school education<\/li>\n<li>higher education<\/li>\n<li>vocational education<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<\/li>\n<li>professional training for teachers in terms of\n<ul>\n<li>latest developments in carbon peaking and carbon neutrality<\/li>\n<li>green and low-carbon development requirements<\/li>\n<li>responsibilities of the education sector<\/li>\n<\/ul>\n<\/li>\n<li>political and ideological education\n<ul>\n<li>integrating green and low-carbon development education with political and ideological courses<\/li>\n<li>guiding university students to study low-carbon development through\n<ul>\n<li>lectures on policies<\/li>\n<li>expert seminars<\/li>\n<li>discussion forums<\/li>\n<\/ul>\n<\/li>\n<li>utilising online and offline resources including WeChat public accounts<\/li>\n<\/ul>\n<\/li>\n<li>programs and courses\n<ul>\n<li>higher institutes to set up a range of disciplines in\n<ul>\n<li>energy storage<\/li>\n<li>hydrogen<\/li>\n<li>carbon sink<\/li>\n<li>green finance<\/li>\n<li>emissions trading<\/li>\n<li>carbon capture, utilisation and storage<\/li>\n<\/ul>\n<\/li>\n<li>vocational education to invest resources in training regarding\n<ul>\n<li>low-carbon building<\/li>\n<li>photovoltaics<\/li>\n<li>hydropower<\/li>\n<li>wind energy<\/li>\n<li>environmental protection<\/li>\n<\/ul>\n<\/li>\n<li>encouraging the integration of industries and education<\/li>\n<\/ul>\n<\/li>\n<li>education activities and campaigns\n<ul>\n<li>developing online education content<\/li>\n<li>organising online activities<\/li>\n<li>organising class activities, lectures and competitions<\/li>\n<li>guiding students to join volunteering programs and conduct field trips and research<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<\/li>\n<li>enhancing the role of higher education in green and low-carbon development\n<ul>\n<li>R&amp;D<\/li>\n<li>policy support<\/li>\n<\/ul>\n<\/li>\n<li>integrating green and low-carbon development with the development and design of campuses\n<ul>\n<li>IT-empowered energy management system<\/li>\n<li>campus construction&nbsp;and upgrading using energy-saving technologies<\/li>\n<\/ul>\n<\/li>\n<li>supporting measures<\/li>\n<\/ul>\n\n                                <\/div>\n                                <div class=\"card-content-meta__footer\">\n                                    <a class=\"list-block__item__more list-block__item__more--collapse js-tracker-view-more \"\n                                       data-id=\"23992\" data-action=\"1\"\n                                       href=\"https:\/\/policycn.com\/public\/commentaries\/education-deemed-crucial-for-a-green-future\">view more<\/a>\n                                    <div\n                                        class=\"list-block__item__date\">08 Nov 2022<\/div>\n                                <\/div>\n                            <\/div>\n                            <div class=\"meta card-content-meta__meta\">\n                                <ul class=\"meta__list\">\n                                                                            <li class=\"meta__item\">\n                                            <h4 class=\"meta__title\">Source<\/h4>\n                                            <div class=\"meta__content\">\n                                                <div class=\"meta__wrapper-link\">\n                                                                                                                                                                                                                                        <a href=\"http:\/\/www.moe.gov.cn\/srcsite\/A03\/moe_1892\/moe_630\/202211\/t20221108_979321.html\"\n                                                                   class=\"meta__link\">Ministry of Education<\/a><br>\n                                                                                                                                                                                                                        <\/div>\n                                            <\/div>\n                                        <\/li>\n                                                                                                            <li class=\"meta__item\">\n                                        <h4 class=\"meta__title\">Sectors<\/h4>\n                                        <div class=\"document__sectors list-block__sectors js-sectorsParent\">\n                                                                                            <div class=\"document__sector document__sector--min js-sectors\n                                                     linked js-newSector-filter \"\n                                                     id=\"296\">preschool ed<\/div>\n                                                                                            <div class=\"document__sector document__sector--min js-sectors\n                                                     linked js-newSector-filter \"\n                                                     id=\"298\">basic ed<\/div>\n                                                                                            <div class=\"document__sector document__sector--min js-sectors\n                                                     linked js-newSector-filter \"\n                                                     id=\"300\">high school<\/div>\n                                                                                            <div class=\"document__sector document__sector--min js-sectors\n                                                     linked js-newSector-filter \"\n                                                     id=\"302\">higher ed<\/div>\n                                                                                            <div class=\"document__sector document__sector--min js-sectors\n                                                     linked js-newSector-filter \"\n                                                     id=\"304\">vocational ed and skills training<\/div>\n                                                                                            <div class=\"document__sector document__sector--min js-sectors\n                                                     linked js-newSector-filter \"\n                                                     id=\"305\">online ed<\/div>\n                                                                                            <div class=\"document__sector document__sector--min js-sectors\n                                                     linked js-newSector-filter \"\n                                                     id=\"326\">research institutes<\/div>\n                                                                                            <div class=\"document__sector document__sector--min js-sectors\n                                                     linked js-newSector-filter \"\n                                                     id=\"332\">energy storage<\/div>\n                                                                                            <div class=\"document__sector document__sector--min js-sectors\n                                                     linked js-newSector-filter \"\n                                                     id=\"334\">hydrogen<\/div>\n                                                                                            <div class=\"document__sector document__sector--min js-sectors\n                                                     linked js-newSector-filter \"\n                                                     id=\"356\">renewables<\/div>\n                                                                                            <div class=\"document__sector document__sector--min js-sectors\n                                                     linked js-newSector-filter \"\n                                                     id=\"357\">wind<\/div>\n                                                                                            <div class=\"document__sector document__sector--min js-sectors\n                                                     linked js-newSector-filter \"\n                                                     id=\"358\">hydro<\/div>\n                                                                                            <div class=\"document__sector document__sector--min js-sectors\n                                                     linked js-newSector-filter \"\n                                                     id=\"359\">solar<\/div>\n                                                                                            <div class=\"document__sector document__sector--min js-sectors\n                                                     linked js-newSector-filter \"\n                                                     id=\"382\">carbon neutrality<\/div>\n                                                                                            <div class=\"document__sector document__sector--min js-sectors\n                                                     linked js-newSector-filter \"\n                                                     id=\"384\">carbon market<\/div>\n                                                                                            <div class=\"document__sector document__sector--min js-sectors\n                                                     disabled \"\n                                                     id=\"385\">green finance<\/div>\n                                                                                        <div\n                                                class=\"document__sector document__sector--rounded document__sector--min js-showSectors\">\n                                                ...\n                                            <\/div>\n                                        <\/div>\n                                    <\/li>\n                                                                    <\/ul>\n                                <div class=\"meta__addtofavorite\">\n                                                                    <\/div>\n                            <\/div>\n                        <\/div>\n                    <\/div>\n                <\/li>\n                            <li class=\"cards__item\">\n                    <div class=\"card-content-meta\">\n                        <div class=\"card-content-meta__inner\">\n                            <div class=\"card-content-meta__content\">\n                                <h2 class=\"card-content-meta__title\">\n                                    <a class=\"card-content-meta__title-link\"\n                                       href=\"https:\/\/policycn.com\/public\/commentaries\/national-carbon-market-sluggish-but-hk-hopes-to-become-global-carbon-trading-centre\">\n                                        national carbon market sluggish, but HK hopes to become global carbon trading centre\n                                    <\/a>\n                                                                    <\/h2>\n                                <div\n                                    class=\"card-content-meta__excerpt card-content-meta__excerpt--black card-content-meta__excerpt--black card-content-meta__excerpt--mbnone content-format content-format--minmarg js-tracker-small\"\n                                    id=\"js-tracker-content-small-23459\">\n                                    <p><em><strong>context:<\/strong> Unperturbed by the delays and low trading on the national carbon market, Hong Kong\u2019s stock exchange has established <a href=\"https:\/\/policycn.com\/commentaries\/hong-kong-international-carbon-market-council-established\/\">Hong Kong International Carbon Market Council.<\/a>\u00a0Experts are hopeful that Hong Kong will be able to position itself as a global centre for carbon trading, and potentially drive international capital into China to support carbon reductions. <\/em><\/p>\n\n                                <\/div>\n                                <div\n                                    class=\"card-content-meta__excerpt card-content-meta__excerpt--black card-content-meta__excerpt--dnone content-format content-format--minmarg js-tracker-all\"\n                                    id=\"js-tracker-content-all-23459\" data-height=\"\">\n                                    <p><em><strong>context:<\/strong> Unperturbed by the delays and low trading on the national carbon market, Hong Kong\u2019s stock exchange has established <a href=\"https:\/\/policycn.com\/commentaries\/hong-kong-international-carbon-market-council-established\/\">Hong Kong International Carbon Market Council.<\/a>\u00a0Experts are hopeful that Hong Kong will be able to position itself as a global centre for carbon trading, and potentially drive international capital into China to support carbon reductions. <\/em><\/p>\n<p>Trading on the national carbon market remains sluggish, while Hong Kong is well positioned to become an international centre for carbon trading, according to comments made at Caixin\u2019s China ESG30 Summer Forum on 10 Jul 2022.<\/p>\n<p>National carbon market trading has been sluggish in 2022, with Q2 prices hovering at around C\u00a559\/tonne, explained Zhang Xiliang \u5f20\u5e0c\u826f carbon market chief architect. Zhang confirmed that carbon quota auctions and adding additional industries to the market are unlikely to occur in its second compliance period, citing the grave state of the economy and insufficient power market reforms.<\/p>\n<p>Zou Ji \u90b9\u9aa5 Energy Foundation China president urged establishing more connections between the carbon market and capital and financial markets to stimulate trading.<\/p>\n<p>Hong Kong can act as a bridge between China and developed markets, especially for voluntary carbon markets, argued Ashley Alder Hong Kong Securities and Futures Commission chief executive. Alder advocated for Hong Kong to set and implement standards for voluntary carbon markets, enabling international funds to flow into China for green projects and carbon offsets.<\/p>\n<p>Ma Jun \u9a6c\u9a8f Hong Kong Green Finance Association chairman and president concurred with Alder, stating that a voluntary carbon market in Hong Kong would have the potential to become the world\u2019s biggest. Ma believes that Hong Kong can help to better allocate funds in the national carbon market, supporting carbon reductions in both Hong Kong and mainland China. He recommends two priorities for Hong Kong\u2019s carbon market<\/p>\n<ul>\n<li>incorporating Hong Kong into a Greater Bay Area carbon market<\/li>\n<li>allowing international participation in China\u2019s compulsory carbon market\n<ul>\n<li>he is optimistic about the short-term prospects for international participation in Guangdong\u2019s carbon market, and potential participation in the national carbon market in the long-term<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n\n                                <\/div>\n                                <div class=\"card-content-meta__footer\">\n                                    <a class=\"list-block__item__more list-block__item__more--collapse js-tracker-view-more \"\n                                       data-id=\"23459\" data-action=\"1\"\n                                       href=\"https:\/\/policycn.com\/public\/commentaries\/national-carbon-market-sluggish-but-hk-hopes-to-become-global-carbon-trading-centre\">view more<\/a>\n                                    <div\n                                        class=\"list-block__item__date\">11 Jul 2022<\/div>\n                                <\/div>\n                            <\/div>\n                            <div class=\"meta card-content-meta__meta\">\n                                <ul class=\"meta__list\">\n                                                                            <li class=\"meta__item\">\n                                            <h4 class=\"meta__title\">Source<\/h4>\n                                            <div class=\"meta__content\">\n                                                <div class=\"meta__wrapper-link\">\n                                                                                                                                                                                                                                        <a href=\"https:\/\/topics.caixin.com\/m\/2022-07-11\/101911510.html\"\n                                                                   class=\"meta__link\">Caixin<\/a><br>\n                                                                                                                                                                                                                        <\/div>\n                                            <\/div>\n                                        <\/li>\n                                                                                                            <li class=\"meta__item\">\n                                        <h4 class=\"meta__title\">Sectors<\/h4>\n                                        <div class=\"document__sectors list-block__sectors js-sectorsParent\">\n                                                                                            <div class=\"document__sector document__sector--min js-sectors\n                                                     linked js-newSector-filter \"\n                                                     id=\"382\">carbon neutrality<\/div>\n                                                                                            <div class=\"document__sector document__sector--min js-sectors\n                                                     linked js-newSector-filter \"\n                                                     id=\"384\">carbon market<\/div>\n                                                                                            <div class=\"document__sector document__sector--min js-sectors\n                                                     linked js-newSector-filter \"\n                                                     id=\"384\">carbon market<\/div>\n                                                                                            <div class=\"document__sector document__sector--min js-sectors\n                                                     disabled \"\n                                                     id=\"385\">green finance<\/div>\n                                                                                        <div\n                                                class=\"document__sector document__sector--rounded document__sector--min js-showSectors\">\n                                                ...\n                                            <\/div>\n                                        <\/div>\n                                    <\/li>\n                                                                    <\/ul>\n                                <div class=\"meta__addtofavorite\">\n                                                                    <\/div>\n                            <\/div>\n                        <\/div>\n                    <\/div>\n                <\/li>\n                            <li class=\"cards__item\">\n                    <div class=\"card-content-meta\">\n                        <div class=\"card-content-meta__inner\">\n                            <div class=\"card-content-meta__content\">\n                                <h2 class=\"card-content-meta__title\">\n                                    <a class=\"card-content-meta__title-link\"\n                                       href=\"https:\/\/policycn.com\/public\/commentaries\/diversifying-ecological-compensation-mechanisms\">\n                                        diversifying ecological compensation mechanisms\n                                    <\/a>\n                                                                    <\/h2>\n                                <div\n                                    class=\"card-content-meta__excerpt card-content-meta__excerpt--black card-content-meta__excerpt--black card-content-meta__excerpt--mbnone content-format content-format--minmarg js-tracker-small\"\n                                    id=\"js-tracker-content-small-21407\">\n                                    <p><em><strong>context:<\/strong> These innovative mechanisms aim to factor in elements leading to environmental degradation across the country. Examples of ecological compensation mechanisms already exist in the <a href=\"https:\/\/policycn.com\/commentaries\/details-of-yangtze-basin-ecological-compensation-scheme-released\/\">Yangtze River basin,<\/a>\u00a0but will be trialled elsewhere.<\/em><\/p>\n\n                                <\/div>\n                                <div\n                                    class=\"card-content-meta__excerpt card-content-meta__excerpt--black card-content-meta__excerpt--dnone content-format content-format--minmarg js-tracker-all\"\n                                    id=\"js-tracker-content-all-21407\" data-height=\"\">\n                                    <p><em><strong>context:<\/strong> These innovative mechanisms aim to factor in elements leading to environmental degradation across the country. Examples of ecological compensation mechanisms already exist in the <a href=\"https:\/\/policycn.com\/commentaries\/details-of-yangtze-basin-ecological-compensation-scheme-released\/\">Yangtze River basin,<\/a>\u00a0but will be trialled elsewhere.<\/em><\/p>\n<p>Environmental rights trading will be expanded, per \u2018Opinions on deepening ecological protection compensation system reform\u2019, released 13 Sep 2021. The opinions document proposes establishing systems allocating water, energy, pollution and carbon emissions with absolute caps. It also proposes<\/p>\n<ul>\n<li aria-level=\"1\">setting up environmentally friendly stock indices<\/li>\n<li aria-level=\"1\">developing carbon emissions futures trading<\/li>\n<li aria-level=\"1\">setting up a carbon emission offset mechanism based on CCERs (China-certified emissions reductions)\n<ul>\n<li aria-level=\"2\">this will incorporate emissions reductions from forestry, renewable energy, methane utilisation etc. into the carbon market<\/li>\n<\/ul>\n<\/li>\n<li aria-level=\"1\">implementing pollution discharge permit systems\n<ul>\n<li aria-level=\"2\">including permits that can be traded and purchased in zones that require environmental protection<\/li>\n<\/ul>\n<\/li>\n<li aria-level=\"1\">encouraging insurance firms to create green insurance products<\/li>\n<li aria-level=\"1\">setting up natural resource asset property rights systems<\/li>\n<li aria-level=\"1\">improving purchasing systems for the right to use natural resources based on market principles, intergenerational compensation, the scarcity of the resource and the resource\u2019s ecological value<\/li>\n<li aria-level=\"1\">compensating entities who protect natural resources<\/li>\n<li aria-level=\"1\">refining horizontal ecological compensation mechanisms\n<ul>\n<li aria-level=\"2\">encouraging localities positioned along rivers to set up such mechanisms<\/li>\n<li aria-level=\"2\">advancing these schemes in the Yangtze and Yellow river basins\n<ul>\n<li aria-level=\"3\">including inter- and intra-provincial mechanisms<\/li>\n<\/ul>\n<\/li>\n<li aria-level=\"2\">allocating central and provincial funds to horizontal compensation mechanisms in catchments of high ecological value<\/li>\n<li aria-level=\"2\">exploring horizontal compensation mechanisms for air pollution<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<p>According to the document, these ecological compensation mechanisms will be set up by 2025 and fully functioning by 2035.<\/p>\n<p>It will still be some time before carbon emissions derivatives and CCERs are included in the national carbon market, claims <em>Caixin<\/em>. Mei Dewen \u6885\u5fb7\u6587 Beijing Environment Exchange president expects the following changes in the national carbon market over the next 7-8 years<\/p>\n<ul>\n<li aria-level=\"1\">companies will be required to purchase their allocations instead of receiving them free<\/li>\n<li aria-level=\"1\">absolute emissions will be regulated, rather than emissions intensity<\/li>\n<li aria-level=\"1\">financial derivatives will be included<\/li>\n<\/ul>\n\n                                <\/div>\n                                <div class=\"card-content-meta__footer\">\n                                    <a class=\"list-block__item__more list-block__item__more--collapse js-tracker-view-more \"\n                                       data-id=\"21407\" data-action=\"1\"\n                                       href=\"https:\/\/policycn.com\/public\/commentaries\/diversifying-ecological-compensation-mechanisms\">view more<\/a>\n                                    <div\n                                        class=\"list-block__item__date\">13 Sep 2021<\/div>\n                                <\/div>\n                            <\/div>\n                            <div class=\"meta card-content-meta__meta\">\n                                <ul class=\"meta__list\">\n                                                                            <li class=\"meta__item\">\n                                            <h4 class=\"meta__title\">Source<\/h4>\n                                            <div class=\"meta__content\">\n                                                <div class=\"meta__wrapper-link\">\n                                                                                                                                                                                                                                        <a href=\"https:\/\/science.caixin.com\/2021-09-13\/101772479.html\"\n                                                                   class=\"meta__link\">Caixin<\/a><br>\n                                                                                                                                                                                                                        <\/div>\n                                            <\/div>\n                                        <\/li>\n                                                                                                            <li class=\"meta__item\">\n                                        <h4 class=\"meta__title\">Sectors<\/h4>\n                                        <div class=\"document__sectors list-block__sectors js-sectorsParent\">\n                                                                                            <div class=\"document__sector document__sector--min js-sectors\n                                                     linked js-newSector-filter \"\n                                                     id=\"45\">equities<\/div>\n                                                                                            <div class=\"document__sector document__sector--min js-sectors\n                                                     linked js-newSector-filter \"\n                                                     id=\"48\">futures<\/div>\n                                                                                            <div class=\"document__sector document__sector--min js-sectors\n                                                     linked js-newSector-filter \"\n                                                     id=\"50\">insurance<\/div>\n                                                                                            <div class=\"document__sector document__sector--min js-sectors\n                                                     linked js-newSector-filter \"\n                                                     id=\"51\">derivatives<\/div>\n                                                                                            <div class=\"document__sector document__sector--min js-sectors\n                                                     linked js-newSector-filter \"\n                                                     id=\"195\">water<\/div>\n                                                                                            <div class=\"document__sector document__sector--min js-sectors\n                                                     linked js-newSector-filter \"\n                                                     id=\"220\">marine resources<\/div>\n                                                                                            <div class=\"document__sector document__sector--min js-sectors\n                                                     linked js-newSector-filter \"\n                                                     id=\"371\">ecological civilisation<\/div>\n                                                                                            <div class=\"document__sector document__sector--min js-sectors\n                                                     linked js-newSector-filter \"\n                                                     id=\"376\">ecological product<\/div>\n                                                                                            <div class=\"document__sector document__sector--min js-sectors\n                                                     linked js-newSector-filter \"\n                                                     id=\"378\">forests<\/div>\n                                                                                            <div class=\"document__sector document__sector--min js-sectors\n                                                     linked js-newSector-filter \"\n                                                     id=\"382\">carbon neutrality<\/div>\n                                                                                            <div class=\"document__sector document__sector--min js-sectors\n                                                     linked js-newSector-filter \"\n                                                     id=\"384\">carbon market<\/div>\n                                                                                            <div class=\"document__sector document__sector--min js-sectors\n                                                     disabled \"\n                                                     id=\"385\">green finance<\/div>\n                                                                                        <div\n                                                class=\"document__sector document__sector--rounded document__sector--min js-showSectors\">\n                                                ...\n                                            <\/div>\n                                        <\/div>\n                                    <\/li>\n                                                                    <\/ul>\n                                <div class=\"meta__addtofavorite\">\n                                                                    <\/div>\n                            <\/div>\n                        <\/div>\n                    <\/div>\n                <\/li>\n                            <li class=\"cards__item\">\n                    <div class=\"card-content-meta\">\n                        <div class=\"card-content-meta__inner\">\n                            <div class=\"card-content-meta__content\">\n                                <h2 class=\"card-content-meta__title\">\n                                    <a class=\"card-content-meta__title-link\"\n                                       href=\"https:\/\/policycn.com\/public\/commentaries\/ministry-discusses-financial-support-for-carbon-peaking\">\n                                        ministry discusses financial support for carbon peaking\n                                    <\/a>\n                                                                    <\/h2>\n                                <div\n                                    class=\"card-content-meta__excerpt card-content-meta__excerpt--black card-content-meta__excerpt--black card-content-meta__excerpt--mbnone content-format content-format--minmarg js-tracker-small\"\n                                    id=\"js-tracker-content-small-20949\">\n                                    <p><em><strong>context:<\/strong> Schemes like the ecological protection compensation mechanism and carbon taxes will be used to address environmentally negative externalities of economic activity, but these could be politically and technically difficult to implement. <\/em><\/p>\n\n                                <\/div>\n                                <div\n                                    class=\"card-content-meta__excerpt card-content-meta__excerpt--black card-content-meta__excerpt--dnone content-format content-format--minmarg js-tracker-all\"\n                                    id=\"js-tracker-content-all-20949\" data-height=\"\">\n                                    <p><em><strong>context:<\/strong> Schemes like the ecological protection compensation mechanism and carbon taxes will be used to address environmentally negative externalities of economic activity, but these could be politically and technically difficult to implement. <\/em><\/p>\n<p>It was reported in August 2021 that Ministry of Finance (MoF) is in the process of drafting \u2018Guiding opinions on financial support for carbon peaking and carbon neutrality work\u2019, aimed at creating a fiscal and tax system to support emissions reduction.<\/p>\n<p>By increasing financial support for emissions reductions, MoF hopes to attract and leverage more private investment. From 2016 to 2020, government funding for environmental protection totalled C\u00a54.42 tn, of which 43.7 percent was provided by the centre, and it grew at 8.2 percent annually.<\/p>\n<p>According to Zhu Zhongming \u6731\u5fe0\u660e MoF vice minister, MoF will focus on<\/p>\n<ul>\n<li aria-level=\"1\">ecological protection compensation mechanisms<\/li>\n<li aria-level=\"1\">coordinating ecological restoration<\/li>\n<li aria-level=\"1\">increasing investment through existing channels<\/li>\n<li aria-level=\"1\">increasing efficacy of investments<\/li>\n<\/ul>\n<p>Currently, fiscal and tax policies aimed at environmental protection include<\/p>\n<ul>\n<li aria-level=\"1\">the environmental protection tax<\/li>\n<li aria-level=\"1\">tax discounts and exemptions for clean energy providers<\/li>\n<li aria-level=\"1\">raising consumption tax rates for refined oil<\/li>\n<li aria-level=\"1\">ecological protection compensation mechanisms for the Yangtze and Yellow Rivers<\/li>\n<\/ul>\n<p>Problems with current ecological compensation mechanisms include<\/p>\n<ul>\n<li aria-level=\"1\">limited coverage<\/li>\n<li aria-level=\"1\">policies not focussed enough<\/li>\n<li aria-level=\"1\">weak incentives<\/li>\n<li aria-level=\"1\">difficult to coordinate<\/li>\n<\/ul>\n<p>Carbon taxes may be levied in the future, comments Xu Wen \u8bb8\u6587 Chinese Academy of Fiscal Sciences researcher. A carbon tax could be implemented by reforming existing taxes and building on the coal resources tax and refined oil consumption tax, he added. Any such tax must balance emissions reductions with the economic and social impacts of the tax, Xu said. In his view, a carbon price is the key to comprehensively controlling emissions. MoF and STA (State Taxation Administration) should consider implementing a carbon tax, agrees Song Xiangqing \u5b8b\u5411\u6e05 Beijing Normal University School of Government deputy director.<\/p>\n\n                                <\/div>\n                                <div class=\"card-content-meta__footer\">\n                                    <a class=\"list-block__item__more list-block__item__more--collapse js-tracker-view-more \"\n                                       data-id=\"20949\" data-action=\"1\"\n                                       href=\"https:\/\/policycn.com\/public\/commentaries\/ministry-discusses-financial-support-for-carbon-peaking\">view more<\/a>\n                                    <div\n                                        class=\"list-block__item__date\">08 Aug 2021<\/div>\n                                <\/div>\n                            <\/div>\n                            <div class=\"meta card-content-meta__meta\">\n                                <ul class=\"meta__list\">\n                                                                            <li class=\"meta__item\">\n                                            <h4 class=\"meta__title\">Source<\/h4>\n                                            <div class=\"meta__content\">\n                                                <div class=\"meta__wrapper-link\">\n                                                                                                                                                                                                                                        <a href=\"http:\/\/finance.eastmoney.com\/a\/202108082035497820.html\"\n                                                                   class=\"meta__link\">East Money<\/a><br>\n                                                                                                                                                                                                                                                                                                                                                            <a href=\"http:\/\/www.zqrb.cn\/finance\/hongguanjingji\/2021-08-10\/A1628523454817.html?mc_cid=5074f9a746&amp;mc_eid=8348e3ea7c\"\n                                                                   class=\"meta__link\">Securities Daily<\/a><br>\n                                                                                                                                                                                                                        <\/div>\n                                            <\/div>\n                                        <\/li>\n                                                                                                            <li class=\"meta__item\">\n                                        <h4 class=\"meta__title\">Sectors<\/h4>\n                                        <div class=\"document__sectors list-block__sectors js-sectorsParent\">\n                                                                                            <div class=\"document__sector document__sector--min js-sectors\n                                                     linked js-newSector-filter \"\n                                                     id=\"15\">investment funds<\/div>\n                                                                                            <div class=\"document__sector document__sector--min js-sectors\n                                                     linked js-newSector-filter \"\n                                                     id=\"19\">tax incentives<\/div>\n                                                                                            <div class=\"document__sector document__sector--min js-sectors\n                                                     linked js-newSector-filter \"\n                                                     id=\"23\">resource tax<\/div>\n                                                                                            <div class=\"document__sector document__sector--min js-sectors\n                                                     linked js-newSector-filter \"\n                                                     id=\"24\">consumption tax<\/div>\n                                                                                            <div class=\"document__sector document__sector--min js-sectors\n                                                     linked js-newSector-filter \"\n                                                     id=\"52\">funds<\/div>\n                                                                                            <div class=\"document__sector document__sector--min js-sectors\n                                                     linked js-newSector-filter \"\n                                                     id=\"352\">petroleum<\/div>\n                                                                                            <div class=\"document__sector document__sector--min js-sectors\n                                                     linked js-newSector-filter \"\n                                                     id=\"353\">coal<\/div>\n                                                                                            <div class=\"document__sector document__sector--min js-sectors\n                                                     linked js-newSector-filter \"\n                                                     id=\"371\">ecological civilisation<\/div>\n                                                                                            <div class=\"document__sector document__sector--min js-sectors\n                                                     linked js-newSector-filter \"\n                                                     id=\"376\">ecological product<\/div>\n                                                                                            <div class=\"document__sector document__sector--min js-sectors\n                                                     linked js-newSector-filter \"\n                                                     id=\"382\">carbon neutrality<\/div>\n                                                                                            <div class=\"document__sector document__sector--min js-sectors\n                                                     linked js-newSector-filter \"\n                                                     id=\"384\">carbon market<\/div>\n                                                                                            <div class=\"document__sector document__sector--min js-sectors\n                                                     disabled \"\n                                                     id=\"385\">green finance<\/div>\n                                                                                        <div\n                                                class=\"document__sector document__sector--rounded document__sector--min js-showSectors\">\n                                                ...\n                                            <\/div>\n                                        <\/div>\n                                    <\/li>\n                                                                    <\/ul>\n                                <div class=\"meta__addtofavorite\">\n                                                                    <\/div>\n                            <\/div>\n                        <\/div>\n                    <\/div>\n                <\/li>\n                            <li class=\"cards__item\">\n                    <div class=\"card-content-meta\">\n                        <div class=\"card-content-meta__inner\">\n                            <div class=\"card-content-meta__content\">\n                                <h2 class=\"card-content-meta__title\">\n                                    <a class=\"card-content-meta__title-link\"\n                                       href=\"https:\/\/policycn.com\/public\/commentaries\/finance-officials-at-the-lujiazui-forum\">\n                                        finance officials at the Lujiazui Forum\n                                    <\/a>\n                                                                    <\/h2>\n                                <div\n                                    class=\"card-content-meta__excerpt card-content-meta__excerpt--black card-content-meta__excerpt--black card-content-meta__excerpt--mbnone content-format content-format--minmarg js-tracker-small\"\n                                    id=\"js-tracker-content-small-20571\">\n                                    <p><strong><em>context<\/em>:\u00a0<\/strong><em>Financial policy makers have been using China's quick recovery from COVID-19 to double down on deleveraging and derisking with local government debt\u00a0 a major focus. <\/em><\/p>\n\n                                <\/div>\n                                <div\n                                    class=\"card-content-meta__excerpt card-content-meta__excerpt--black card-content-meta__excerpt--dnone content-format content-format--minmarg js-tracker-all\"\n                                    id=\"js-tracker-content-all-20571\" data-height=\"\">\n                                    <p><strong><em>context<\/em>:\u00a0<\/strong><em>Financial policy makers have been using China's quick recovery from COVID-19 to double down on deleveraging and derisking with local government debt\u00a0 a major focus. <\/em><\/p>\n<p>The Lujiazui Forum (10-11 Jun 2021) in Shanghai attracted major financial policy makers to discuss the economy. Among participants<\/p>\n<ul>\n<li>Yi Gang \u6613\u7eb2 PBoC governor discussed\n<ul>\n<li>the current conomic situation\n<ul>\n<li>while producer prices are high the impact on consumer prices is expected to be weak, but uncertainties caused by the pandemic may increase the impact<\/li>\n<\/ul>\n<\/li>\n<li>normal monetary policy is still the goal and PBoC will\n<ul>\n<li>develop green finance<\/li>\n<li>promote inclusive finance<\/li>\n<li>develop Shanghai as an international financial centre<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<\/li>\n<li>Pan Gongsheng \u6f58\u529f\u80dc PBoC (People\u2019s Bank of China) vice governor and SAFE (State Administration of Foreign Exchange) Director of Foreign Exchange Bureau focused on exchange rates\n<ul>\n<li>a managed floating exchange rate is suitable for China and will continue to be implemented in the long run<\/li>\n<li>two-way fluctuations will become the norm<\/li>\n<li>there is a risk international markets have become disconnected but will connect back to reality necessitting risk aversion and reversing cross-border capital flows<\/li>\n<li>firms should properly hedge change rate risks and not speculate<\/li>\n<\/ul>\n<\/li>\n<li>Guo Shuqing \u90ed\u6811\u6e05 CBIRC (China Banking and Insurance Regulatory Commission) chairman said\n<ul>\n<li>should increase direct financing particularly by improving the bond market<\/li>\n<li>the major task remains preventing risks, like\n<ul>\n<li>non-performing loans<\/li>\n<li>shadow banking<\/li>\n<li>fraud<\/li>\n<li>misuse of financial derivatives<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n\n                                <\/div>\n                                <div class=\"card-content-meta__footer\">\n                                    <a class=\"list-block__item__more list-block__item__more--collapse js-tracker-view-more \"\n                                       data-id=\"20571\" data-action=\"1\"\n                                       href=\"https:\/\/policycn.com\/public\/commentaries\/finance-officials-at-the-lujiazui-forum\">view more<\/a>\n                                    <div\n                                        class=\"list-block__item__date\">10 Jun 2021<\/div>\n                                <\/div>\n                            <\/div>\n                            <div class=\"meta card-content-meta__meta\">\n                                <ul class=\"meta__list\">\n                                                                            <li class=\"meta__item\">\n                                            <h4 class=\"meta__title\">Source<\/h4>\n                                            <div class=\"meta__content\">\n                                                <div class=\"meta__wrapper-link\">\n                                                                                                                                                                                                                                        <a href=\"http:\/\/www.pbc.gov.cn\/goutongjiaoliu\/113456\/113469\/4265950\/index.html\"\n                                                                   class=\"meta__link\">People&#039;s Bank of China (1)<\/a>\n                                                                <br>\n                                                                                                                                                                                                                                                <a href=\"http:\/\/www.pbc.gov.cn\/goutongjiaoliu\/113456\/113469\/4265979\/index.html\"\n                                                                   class=\"meta__link\">People&#039;s Bank of China (2)<\/a>\n                                                                <br>\n                                                                                                                                                                                                                                                <a href=\"http:\/\/www.pbc.gov.cn\/goutongjiaoliu\/113456\/113469\/4265907\/index.html\"\n                                                                   class=\"meta__link\">People&#039;s Bank of China (3)<\/a>\n                                                                <br>\n                                                                                                                                                                                                                        <\/div>\n                                            <\/div>\n                                        <\/li>\n                                                                                                            <li class=\"meta__item\">\n                                        <h4 class=\"meta__title\">Sectors<\/h4>\n                                        <div class=\"document__sectors list-block__sectors js-sectorsParent\">\n                                                                                            <div class=\"document__sector document__sector--min js-sectors\n                                                     linked js-newSector-filter \"\n                                                     id=\"28\">money supply<\/div>\n                                                                                            <div class=\"document__sector document__sector--min js-sectors\n                                                     linked js-newSector-filter \"\n                                                     id=\"30\">foreign exchange reserves<\/div>\n                                                                                            <div class=\"document__sector document__sector--min js-sectors\n                                                     linked js-newSector-filter \"\n                                                     id=\"34\">commercial banking<\/div>\n                                                                                            <div class=\"document__sector document__sector--min js-sectors\n                                                     linked js-newSector-filter \"\n                                                     id=\"35\">banking regulation<\/div>\n                                                                                            <div class=\"document__sector document__sector--min js-sectors\n                                                     linked js-newSector-filter \"\n                                                     id=\"36\">NPLs<\/div>\n                                                                                            <div class=\"document__sector document__sector--min js-sectors\n                                                     linked js-newSector-filter \"\n                                                     id=\"37\">shadow banking<\/div>\n                                                                                            <div class=\"document__sector document__sector--min js-sectors\n                                                     linked js-newSector-filter \"\n                                                     id=\"44\">inclusive finance<\/div>\n                                                                                            <div class=\"document__sector document__sector--min js-sectors\n                                                     linked js-newSector-filter \"\n                                                     id=\"45\">equities<\/div>\n                                                                                            <div class=\"document__sector document__sector--min js-sectors\n                                                     linked js-newSector-filter \"\n                                                     id=\"46\">bonds<\/div>\n                                                                                            <div class=\"document__sector document__sector--min js-sectors\n                                                     linked js-newSector-filter \"\n                                                     id=\"49\">foreign exchange<\/div>\n                                                                                            <div class=\"document__sector document__sector--min js-sectors\n                                                     disabled \"\n                                                     id=\"385\">green finance<\/div>\n                                                                                        <div\n                                                class=\"document__sector document__sector--rounded document__sector--min js-showSectors\">\n                                                ...\n                                            <\/div>\n                                        <\/div>\n                                    <\/li>\n                                                                    <\/ul>\n                                <div class=\"meta__addtofavorite\">\n                                                                    <\/div>\n                            <\/div>\n                        <\/div>\n                    <\/div>\n                <\/li>\n                            <li class=\"cards__item\">\n                    <div class=\"card-content-meta\">\n                        <div class=\"card-content-meta__inner\">\n                            <div class=\"card-content-meta__content\">\n                                <h2 class=\"card-content-meta__title\">\n                                    <a class=\"card-content-meta__title-link\"\n                                       href=\"https:\/\/policycn.com\/public\/commentaries\/green-bonds-included-in-central-banks-green-finance-plan\">\n                                        green bonds included in central bank's green finance plan\n                                    <\/a>\n                                                                    <\/h2>\n                                <div\n                                    class=\"card-content-meta__excerpt card-content-meta__excerpt--black card-content-meta__excerpt--black card-content-meta__excerpt--mbnone content-format content-format--minmarg js-tracker-small\"\n                                    id=\"js-tracker-content-small-20543\">\n                                    <p><strong style=\"font-style: italic;\">context:<\/strong><i> This plan is the central bank's latest efforts to\u00a0incentivise financial institutions to scale up green projects. Yi Gang <\/i>\u6613\u7eb2<i> PBoC governor also said that the bank will support carbon reduction and green finance through adjusting commercial bank ratings and deposit insurance rates, as well as through macroprudential\u00a0assessment. <\/i><\/p>\n\n                                <\/div>\n                                <div\n                                    class=\"card-content-meta__excerpt card-content-meta__excerpt--black card-content-meta__excerpt--dnone content-format content-format--minmarg js-tracker-all\"\n                                    id=\"js-tracker-content-all-20543\" data-height=\"\">\n                                    <p><strong style=\"font-style: italic;\">context:<\/strong><i> This plan is the central bank's latest efforts to\u00a0incentivise financial institutions to scale up green projects. Yi Gang <\/i>\u6613\u7eb2<i> PBoC governor also said that the bank will support carbon reduction and green finance through adjusting commercial bank ratings and deposit insurance rates, as well as through macroprudential\u00a0assessment. <\/i><\/p>\n<p>On 9 Jun 2021, PBoC (People's Bank of China) announced its green finance assessment plan for banks, effective 1 June. It stipulates<\/p>\n<ul>\n<li>green finance businesses used in the plan include, but are not limited to, loans, securities, equity investment, financial leasing and trusts<\/li>\n<li>businesses that will be under assessment are domestic green loans and green bonds<\/li>\n<li>assessment will be carried out based on quantitative (80 percent), like the portion of green businesses, and qualitative indicators<\/li>\n<\/ul>\n<p>Financial institutions' self-managed and wealth management funds will very likely shore up investment in green bonds in the future and boost the green bond market, note bank insiders. This will help bring down financing costs.<\/p>\n<p>The plan also adds that assessment results will be incorporated into the central bank's policy and prudential management tools. The results will directly impact the fees that fund the deposit insurance program and other financial businesses banks would like to open, <em>Caixin<\/em> explains.<\/p>\n\n                                <\/div>\n                                <div class=\"card-content-meta__footer\">\n                                    <a class=\"list-block__item__more list-block__item__more--collapse js-tracker-view-more \"\n                                       data-id=\"20543\" data-action=\"1\"\n                                       href=\"https:\/\/policycn.com\/public\/commentaries\/green-bonds-included-in-central-banks-green-finance-plan\">view more<\/a>\n                                    <div\n                                        class=\"list-block__item__date\">09 Jun 2021<\/div>\n                                <\/div>\n                            <\/div>\n                            <div class=\"meta card-content-meta__meta\">\n                                <ul class=\"meta__list\">\n                                                                            <li class=\"meta__item\">\n                                            <h4 class=\"meta__title\">Source<\/h4>\n                                            <div class=\"meta__content\">\n                                                <div class=\"meta__wrapper-link\">\n                                                                                                                                                                                                                                        <a href=\"https:\/\/finance.caixin.com\/2021-06-09\/101725229.html\"\n                                                                   class=\"meta__link\">Caixin Finance<\/a><br>\n                                                                                                                                                                                                                        <\/div>\n                                            <\/div>\n                                        <\/li>\n                                                                                                            <li class=\"meta__item\">\n                                        <h4 class=\"meta__title\">Sectors<\/h4>\n                                        <div class=\"document__sectors list-block__sectors js-sectorsParent\">\n                                                                                            <div class=\"document__sector document__sector--min js-sectors\n                                                     linked js-newSector-filter \"\n                                                     id=\"46\">bonds<\/div>\n                                                                                            <div class=\"document__sector document__sector--min js-sectors\n                                                     linked js-newSector-filter \"\n                                                     id=\"382\">carbon neutrality<\/div>\n                                                                                            <div class=\"document__sector document__sector--min js-sectors\n                                                     disabled \"\n                                                     id=\"385\">green finance<\/div>\n                                                                                        <div\n                                                class=\"document__sector document__sector--rounded document__sector--min js-showSectors\">\n                                                ...\n                                            <\/div>\n                                        <\/div>\n                                    <\/li>\n                                                                    <\/ul>\n                                <div class=\"meta__addtofavorite\">\n                                                                    <\/div>\n                            <\/div>\n                        <\/div>\n                    <\/div>\n                <\/li>\n                            <li class=\"cards__item\">\n                    <div class=\"card-content-meta\">\n                        <div class=\"card-content-meta__inner\">\n                            <div class=\"card-content-meta__content\">\n                                <h2 class=\"card-content-meta__title\">\n                                    <a class=\"card-content-meta__title-link\"\n                                       href=\"https:\/\/policycn.com\/public\/commentaries\/monetary-policy-should-be-structurally-oriented\">\n                                        monetary policy should be structurally oriented\n                                    <\/a>\n                                                                    <\/h2>\n                                <div\n                                    class=\"card-content-meta__excerpt card-content-meta__excerpt--black card-content-meta__excerpt--black card-content-meta__excerpt--mbnone content-format content-format--minmarg js-tracker-small\"\n                                    id=\"js-tracker-content-small-16512\">\n                                    <p><b><i>context: <\/i><\/b><i><span style=\"font-weight: 400;\">Monetary policy-making is a<\/span><\/i><a href=\"https:\/\/policycn.com\/commentaries\/debating-expansionary-policies-under-economic-downturn\/\">\u00a0<i><span style=\"font-weight: 400;\">difficult task in H2 2019<\/span><\/i><\/a><i><span style=\"font-weight: 400;\">. Inflationary pressures are mounting, while external uncertainties continue to threaten stability. The latest economic work symposium sends strong signals to policymakers about the importance of policy stability. <\/span><\/i><span style=\"font-weight: 400;\"><\/span><\/p>\n\n                                <\/div>\n                                <div\n                                    class=\"card-content-meta__excerpt card-content-meta__excerpt--black card-content-meta__excerpt--dnone content-format content-format--minmarg js-tracker-all\"\n                                    id=\"js-tracker-content-all-16512\" data-height=\"\">\n                                    <p><b><i>context: <\/i><\/b><i><span style=\"font-weight: 400;\">Monetary policy-making is a<\/span><\/i><a href=\"https:\/\/policycn.com\/commentaries\/debating-expansionary-policies-under-economic-downturn\/\">\u00a0<i><span style=\"font-weight: 400;\">difficult task in H2 2019<\/span><\/i><\/a><i><span style=\"font-weight: 400;\">. Inflationary pressures are mounting, while external uncertainties continue to threaten stability. The latest economic work symposium sends strong signals to policymakers about the importance of policy stability. <\/span><\/i><span style=\"font-weight: 400;\"><\/span><\/p>\n<p><span style=\"font-weight: 400;\">On 12 Nov 2019, Premier Li Keqiang \u674e\u514b\u5f3a presided over the Economic Situation Experts and Entrepreneurs Symposium. The symposium reiterated downward economic pressure has increased. Li says it is necessary to have an \u2018awareness of hardship\u2019 and the 'spirit to do hard work'. He stressed the necessity of policy stability and using counter-cyclical adjustments more effectively.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The symposium stipulated<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">enhance effectiveness and sustainability of fiscal and monetary policies<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">strengthen support for the real economy especially SMEs<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">optimise use of local government special-purpose bonds<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">expand effective investment and endogenous growth engines<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">secure employment stability and support job-seeking<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">dismantle institutional barriers and promote consumption<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">accelerate recovery of pig production<\/span><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">Ren Zeping \u4efb\u6cfd\u5e73 Evergrande Research Institute chief economist believes<\/span><a href=\"https:\/\/policycn.com\/commentaries\/october-credit-data-shows-weak-demand\/\"> <span style=\"font-weight: 400;\">weak October 2019 credit data<\/span><\/a><span style=\"font-weight: 400;\"> indicates the domestic slowdown has exacerbated. Tight real estate financing and high premiums for private SMEs are squeezing credit creation, Ren warns. Structurally, on-balance sheet loans, special bonds, and unacceptable bank drafts have dragged down credit growth. Ren suggests tweaking <\/span><a href=\"https:\/\/policycn.com\/commentaries\/mlf-cut-unexpected-massive-easing-still-questionable\/\"><span style=\"font-weight: 400;\">LPR and MLF interest rates<\/span><\/a><span style=\"font-weight: 400;\"> in several steps to reduce the impact of interest rate adjustments on the market while offering mild monetary stimulus to the economy.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Differentiated reductions in deposit and loan benchmark interest rates can put pressure on banks\u2019 net interest margin, argues Tang Jianwei \u5510\u5efa\u4f1f Bank of Communications Finance Research Centre chief analyst, adding that banks should boost<\/span><a href=\"https:\/\/policycn.com\/commentaries\/september-cpi-breaks-3-percent-ppi-contracts-further\/\"> <span style=\"font-weight: 400;\">targeted liquidity to support SMEs<\/span><\/a><span style=\"font-weight: 400;\">. More broadly, the central bank may lower the required-reserve ratio (RRR) when liquidity is tight at the end of 2019, Tang contends.<\/span><\/p>\n\n                                <\/div>\n                                <div class=\"card-content-meta__footer\">\n                                    <a class=\"list-block__item__more list-block__item__more--collapse js-tracker-view-more \"\n                                       data-id=\"16512\" data-action=\"1\"\n                                       href=\"https:\/\/policycn.com\/public\/commentaries\/monetary-policy-should-be-structurally-oriented\">view more<\/a>\n                                    <div\n                                        class=\"list-block__item__date\">13 Nov 2019<\/div>\n                                <\/div>\n                            <\/div>\n                            <div class=\"meta card-content-meta__meta\">\n                                <ul class=\"meta__list\">\n                                                                            <li class=\"meta__item\">\n                                            <h4 class=\"meta__title\">Source<\/h4>\n                                            <div class=\"meta__content\">\n                                                <div class=\"meta__wrapper-link\">\n                                                                                                                                                                                                                                        <a href=\"https:\/\/www.jiemian.com\/article\/3677412.html\"\n                                                                   class=\"meta__link\">Jiemian<\/a><br>\n                                                                                                                                                                                                                                                                                                                                                            <a href=\"http:\/\/www.21jingji.com\/2019\/11-13\/5NMDEzNzlfMTUxNjk5Nw.html\"\n                                                                   class=\"meta__link\">21st Century Business Herald<\/a><br>\n                                                                                                                                                                                                                                                                                                                                                            <a href=\"http:\/\/www.zqrb.cn\/finance\/hongguanjingji\/2019-11-13\/A1573597394818.html\"\n                                                                   class=\"meta__link\">Securities Daily<\/a><br>\n                                                                                                                                                                                                                        <\/div>\n                                            <\/div>\n                                        <\/li>\n                                                                                                            <li class=\"meta__item\">\n                                        <h4 class=\"meta__title\">Sectors<\/h4>\n                                        <div class=\"document__sectors list-block__sectors js-sectorsParent\">\n                                                                                            <div class=\"document__sector document__sector--min js-sectors\n                                                     linked js-newSector-filter \"\n                                                     id=\"28\">money supply<\/div>\n                                                                                            <div class=\"document__sector document__sector--min js-sectors\n                                                     linked js-newSector-filter \"\n                                                     id=\"34\">commercial banking<\/div>\n                                                                                            <div class=\"document__sector document__sector--min js-sectors\n                                                     linked js-newSector-filter \"\n                                                     id=\"35\">banking regulation<\/div>\n                                                                                            <div class=\"document__sector document__sector--min js-sectors\n                                                     linked js-newSector-filter \"\n                                                     id=\"36\">NPLs<\/div>\n                                                                                            <div class=\"document__sector document__sector--min js-sectors\n                                                     linked js-newSector-filter \"\n                                                     id=\"37\">shadow banking<\/div>\n                                                                                            <div class=\"document__sector document__sector--min js-sectors\n                                                     linked js-newSector-filter \"\n                                                     id=\"38\">ag banking<\/div>\n                                                                                            <div class=\"document__sector document__sector--min js-sectors\n                                                     linked js-newSector-filter \"\n                                                     id=\"39\">corporate debt<\/div>\n                                                                                            <div class=\"document__sector document__sector--min js-sectors\n                                                     linked js-newSector-filter \"\n                                                     id=\"41\">private capital<\/div>\n                                                                                            <div class=\"document__sector document__sector--min js-sectors\n                                                     linked js-newSector-filter \"\n                                                     id=\"42\">household debt<\/div>\n                                                                                            <div class=\"document__sector document__sector--min js-sectors\n                                                     linked js-newSector-filter \"\n                                                     id=\"44\">inclusive finance<\/div>\n                                                                                            <div class=\"document__sector document__sector--min js-sectors\n                                                     linked js-newSector-filter \"\n                                                     id=\"326\">research institutes<\/div>\n                                                                                            <div class=\"document__sector document__sector--min js-sectors\n                                                     disabled \"\n                                                     id=\"385\">green finance<\/div>\n                                                                                        <div\n                                                class=\"document__sector document__sector--rounded document__sector--min js-showSectors\">\n                                                ...\n                                            <\/div>\n                                        <\/div>\n                                    <\/li>\n                                                                    <\/ul>\n                                <div class=\"meta__addtofavorite\">\n                                                                    <\/div>\n                            <\/div>\n                        <\/div>\n                    <\/div>\n                <\/li>\n                        <\/ul>\n<\/div>\n    <div class=\"page__pagination\">\n        <nav class=\"pagination\">\n        <ul class=\"pagination__list\">\n            \n                            <li class=\"pagination__item pagination__item--type--prev\">\n                    <a class=\"pagination__link\" href=\"https:\/\/policycn.com\/public\/commentaries-ajax?newSectors%5B0%5D=385&amp;page=1\" rel=\"prev\" aria-label=\"&laquo; Previous\">&lsaquo;<\/a>\n                <\/li>\n            \n            \n                            \n                \n                \n                                                                                        <li class=\"pagination__item\">\n                                <a class=\"pagination__link\" 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