A panel discussion on carbon market development took place at the 12th China New Energy International Forum. The panel featured three members of the ENVI Committee of the European Parliament, Mr. Yvo Belet, Mr. Bas Eickhout and Mr. Seb Dance, as well as Ms. Deanna Easton, Australian Embassy, Mr. Dai Yande from Low Carbon Alliance, and Dr. Alexander Fisher, GIZ China All panelists agreed that a functioning carbon market needs to be built gradually and requires regular adjustments to ensure that the systems remain fit for purpose. In this process, international cooperation plays an important role by facilitating mutual learning and sharing experiences from practical implementation.