Since its commencement back in July 2021, China’s national ETS has completed its first compliance period and is currently in its second cycle. This analyst update aims to provide a brief overview of the national ETS status. Furthermore, it discusses the future path for expanding scope of this system. Based on the recent policy developments, it suggests that whereas the iron & steel and cement will likely be included under the national ETS by 2025, the full scope expansion of this scheme might only be finalized by 2030.
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