Core Viewpoint - The article discusses the transition of China's carbon market from intensity-based control to total volume control, emphasizing the importance of carbon emission quotas as a new form of currency for environmental accountability and economic incentives [2] Group 1: Transition to Total Volume Control - The carbon market will shift from "intensity control" to "total volume control" by 2030, allowing for more precise emission reductions [2] - This new approach ensures that each company's emissions are tracked and managed, moving away from the logic of "more emissions, more profits" [2] Group 2: Paid Quotas and Market Dynamics - The transition from free quotas to paid quotas is expected to incentivize companies to actively reduce emissions, similar to the EU's experience which generated €180 billion in revenue [2] - Increasing the proportion of paid quotas will create market pressure for companies, making carbon emissions a cost and carbon reduction a benefit [2] Group 3: Fair and Efficient Allocation - The allocation of quotas must be balanced; too lenient may lead to complacency, while too strict could harm businesses, highlighting the need for "moderate flexibility" [2] - Enhanced data accounting and traceability mechanisms will ensure transparency and fairness in quota usage [2] Group 4: Future Implications - The evolution of the carbon market is set to drive China's green and low-carbon transformation, opening new avenues for industrial upgrades [2] - The carbon market is positioned to become a new engine for green development in China [2]