TREE NEWS update: China’s national carbon emissions trading market has traded a cumulative 961 million tonnes worth 65.699 billion yuan as of end-August, the 2026 China Carbon Market Conference in Wuhan heard on Tuesday. The National Carbon Market Development Report (2026) released at the event showed 2025 volume reached a record 235 million tonnes, up 24.36% year on year, across 243 trading days, with turnover of 14.63 billion yuan.
China’s national carbon market hits record 235M tonnes traded in 2025
The record volume and rising year-on-year turnover signal that China's compliance carbon market is maturing into a genuinely liquid pricing venue, not just a symbolic policy instrument. That matters for emitters covered by the scheme, for the financial firms building carbon-linked products around it, and for RWA and tokenization projects eyeing carbon credits as an on-chain asset class. The open question is whether liquidity keeps deepening as more sectors are phased in, and whether pricing power follows volume.
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