The release of official management measures and offset methodologies by the Ministry of Ecology and Environment (MEE) in late October 2023 helps facilitate the restart of China’s national offset program. The new policy development has increased the volume of traded offset credits in October, but its overall impact on the offset market has remained constrained, due to the current limited supply. In the meantime, the MEE will continue to prepare towards the relaunch, scheduled for the year-end.