On 22 March 2022, the National Development and Reform Commission (NDRC) and the National Energy Administration (NEA) issued the “14th Five-Year Plan for a Modern Energy System” (FYP; 2021-2025), which emphasizes ensuring energy security and accelerating the green and low-carbon energy transition.
After years of preparation and piloting, trading in the national Emission Trading System (ETS) was launched in July 2021.
In order to thoroughly implement the major strategic decisions of carbon peaking and carbon neutrality and to explore differentiated institutional mechanisms for climate investment and financing, on 23 December 2021 the MEE together with other 8 administrative bodies and finance intuitions circulated the Notice of the Pilot Work on Climate Investment and Financing (and attached the drafted Climate Investment and Financing Pilot Work Scheme).
At the end of October, just days before the beginning of the world climate conference in Glasgow and amidst the release of the Chinese LEDS until 2060 and updated NDC for 2030, several documents of the “1+N framework” were released. The “Working Guidance for Carbon Dioxide Peaking and Carbon Neutrality
The Multilateral Cooperation Centre for Development Finance (MCDF) is a new, but prospectively important initiative in international development finance, initiated by China at the inaugural Belt and Road Forum in 2017, and now endorsed by eight leading international development banks worldwide.
China’s 2021 Central Economic Work Conference (CEWC), the most authoritative wind vane for assessing China’s current economic status and guiding macroeconomic policies for the next year, took place on 8-10 December.
