On 11 June 2021, the State Council issued the Notice for the Legislative Plan of 2021 – a document in which the country’s highest-ranking administrative body notifies other government agencies of the legislative work they are expected to fulfill in a given year. Given that the “National Emissions Trading System (ETS) Interim Ordinance” is mentioned in said report, one can expect the decree to be published before the end of the year. Recently, the MEE asked provincial governments, financial regulators, and other authorities to comment on a draft of the Ordinance. After the first round of consultations earlier this year, the MEE had already submitted a draft to the State Council and the Ministry of Justice.
Years of groundwork came to a conclusion with the official ushering in of trading in the Chinese national emissions trading system (ETS) on 16 July