为绿色经济转型提供坚实支撑 碳配额CEA市场迎来新节点

Core Viewpoint - The second round of testing for the bulk trading market is set to begin in January 2026, as part of the ongoing efforts to advance the green economy transition and improve the national carbon market system [1][3]. Group 1: Green Economy Transition - The green economy transition is being pursued with a focus on steady progress, phased advancement, preliminary testing, and continuous improvement, indicating a deepening institutionalization and standardization of the carbon market [3][10]. - The national carbon market is a crucial institutional tool for achieving the "dual carbon" goals and serves as an essential infrastructure for promoting the green economy transition [3][11]. Group 2: Bulk Trading Market - The bulk trading mechanism is an important supplement to the national carbon market trading system, enhancing trading efficiency and liquidity management, while providing richer reference information for price formation [5][10]. - The first round of bulk trading testing showed stable and orderly operation, with increased market participation and a well-tested trading system, providing valuable data for future institutional optimization and risk assessment [6][10]. Group 3: Second Round Testing - The upcoming second round of testing will build on the experiences from the first round, focusing on further verifying and improving the trading system, operational mechanisms, and risk prevention capabilities [7][9]. - The second round is not merely a repetition but aims to conduct more systematic stress testing and scenario validation to support the high-quality development of the carbon market [7][11]. Group 4: Market Expectations and Implications - As the timeline for the second round of testing becomes clearer, market expectations for the national carbon market's development are also becoming more defined [9][10]. - The continuous testing and improvement of the bulk trading mechanism will enhance the transparency and continuity of carbon asset price references, boosting investor confidence in the long-term development of the carbon market [10][11].