China is expected to need USD 21.07 trillion (CNY 136 trillion) to achieve carbon neutrality

On 27 July 2026, the Ministry of Ecology and Environment (MEE) and 18 other national authorities jointly issued the “National Climate Change Plan for the 15th Five-Year Plan Period”. The plan covers the period 2026–2030 and addresses mitigation, adaptation, carbon markets, product carbon footprints and climate governance.

The plan builds on the objectives of the general 15th Five-Year Plan (FYP) for National Economic and Social Development, adopted in March 2026, and of the State Council’s “Action Plan for Carbon Peaking during the 15th Five-Year Plan Period”, issued earlier this month. While the “Action Plan for Carbon Peaking” focuses mainly on energy and sectoral carbon dioxide (CO2) reductions, the new national climate plan also addresses non-CO2 gases, climate risk and the data systems needed to implement climate policy.

On 9 July 2026, the State Council published the “Action Plan for Carbon Peaking during the 15th Five-Year Plan Period (2026–2030)”. The plan translates the climate objectives of the 15th Five-Year Plan, adopted in March 2026, into sector-level measures for energy, industry, transport, buildings and carbon markets. It is the central instrument through which China intends to reach its target of peaking carbon dioxide (CO2) emissions before 2030, and prepare the ground for carbon neutrality before 2060.

China’s Ministry of Ecology and Environment (MEE) has issued a new regulation prohibiting the production of extruded polystyrene (XPS) foam products that use hydrochlorofluorocarbons (HCFCs) or HCFC-containing