China’s recent policy updates lay the foundation for ancillary services and spot markets developments. This marks another step in the ongoing power market reform. The new rules aim to address challenges arising from higher shares of variable renewables by introducing more standardised, market-based mechanisms to enhance system flexibility and efficiency.
On 30 April 2025, following the issuance of the Corporate Sustainability Disclosure Standards – Basic Standards (Trial) in December 2024 (see earlier briefing), the Ministry of Finance (MOF) of China, together with the Ministry of Ecology and Environment (MEE), released the draft version of the Corporate Sustainability Disclosure Standard No.1 – Climate (Trial) (hereinafter referred to as the “Climate Standard”) for public consultation by 31 May 2025.
To reach its goals of carbon peaking and carbon neutrality, China has issued the National Climate Change Standards System Development Plan (hereinafter referred to as the Plan). First announced in 2023, the Plan has now been formally adopted by the Ministry of Ecology and Environment, together with 14 other ministries and commissions. According to the Plan, the government aims to establish a national standards system by 2030, aimed at guiding actions on mitigation, adaptation, and carbon market operations.
On 28 April 2025, the Draft of the Ecological and Environmental Code of the People’s Republic of China (hereafter: Environmental Code) was submitted for deliberation to the 15th Session of the Standing Committee of the 14th National People’s Congress [1], marking a pivotal step in the development of China’s legal framework
On January 3, 2025, the Ministry of Ecology and Environment of the People’s Republic of China, in collaboration with other relevant departments, released The People’s Republic of China First Biennial Transparency Report on Climate Change. This report comprehensively presents the latest progress in key areas such as greenhouse gas (GHG)
In January 2025, China’s State Council approved the Implementation Opinions on Building Pioneer Demonstrations for a Beautiful China, setting the stage for integrating high-quality development with ecological protection. Focusing on green and low-carbon growth, biodiversity conservation, and ecological governance, the plan targets key regions like the Yangtze River Delta, Greater Bay Area, and Yellow River Basin. By 2027, these pilot projects will serve as national benchmarks under the Beautiful China Initiative. Closely aligned with the Urban-Act Project, this initiative accelerates climate-resilient urban planning and sustainable development.
By March 2025, the State Council of the People’s Republic of China had approved 40 territorial spatial master plans for provinces, provincial capitals, and municipalities for the period 2021–2035. Among these are the recently endorsed plans for Xi’an and Xiamen, which were selected as low-carbon and climate-resilient pilot cities under the IKI Urban-Act project. These plans lay out a spatial governance framework that integrates ecological, agricultural, and urban spaces, aiming to safeguard national food security and ecological integrity while supporting sustainable urban and regional development over the medium and long term.
On 27 January 2025, China’s National Development and Reform Commission (NDRC) and the National Energy Administration (NEA) jointly issued a policy titled “Notice on Deepening the Marketisation Reform of Feed-in Tariffs for New Energy to Promote High-Quality Development of New Energy”. This policy marks a shift in China’s approach to pricing wind and solar power, transitioning from fixed tariffs to a market-based system.
The iron and steel industry faces low-carbon transformation challenges due to its resource- and energy-intensive production processes. Accelerating the integration of the iron and steel industry into the Chinese national emissions trading (China ETS) system is crucial to its green and low-carbon development.
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