1. Carbon trading coverage As of the beginning of 2018, 42 countries and 25 local municipalities across the country have priced carbon through carbon emissions trading systems or carbon taxes.

The number of carbon pricing initiatives has tripled in the past decade, nearly doubling over the past five years.

China is the country with the largest carbon emissions. The total amount of greenhouse gas emissions involved in the eight ETS pilot projects is 1.3 billion tons. The future market development trend will increase exponentially.

2. Carbon trading pricing situation The main reason why the government promotes carbon trading is not only to control and improve the national greenhouse efficiency, but also the current carbon price is objective, and carbon tax is about to become the main tax source of national key fiscal revenue.

The current carbon price range ranges from the lowest US$1/ton of carbon dioxide equivalent to the highest of US$139/ton of carbon dioxide equivalent, with the average price at US$10/ton of carbon dioxide equivalent.

As far as the current carbon price is concerned, the total value of ETS and carbon taxes has reached US$82 billion in 2018, an increase of 56% year-on-year in 2017. It is expected to develop with an annual revenue of no less than US$100 billion in the future.

Taking the CDM project in the Kyoto Protocol as a starting point from the current status of carbon pricing development in my country, my country's current carbon trading market will be divided into three stages: 1. Clean development mechanism stage (2002-2011).

2. Pilot transaction stage (2011-2017).

3. National trading stage (2017 to present).

As of the end of 2017, the carbon trading markets in seven provinces and cities in my country were very active, with the cumulative trading volume of pilot carbon trading and Fujian carbon market quotas reaching 185 million tons.