Group 1 - The central government has provided a clear roadmap for building a national carbon market, emphasizing its role as a policy tool for controlling greenhouse gas emissions [1][5] - The goal is to establish a nationwide carbon trading market that covers major industrial sectors by 2027 and to create a comprehensive carbon pricing mechanism by 2030 [1][2] - The transition from intensity control to total volume control and from free to paid quotas indicates a stronger regulatory framework for the carbon market, reflecting the true cost of carbon reduction for enterprises [2][3] Group 2 - The current carbon market operates under a free allocation system based on intensity control, but changes are expected during the "14th Five-Year Plan" and "15th Five-Year Plan" periods [2][3] - The introduction of total volume control is crucial for achieving carbon peak targets by 2030, with a shift towards paid quota allocation expected to enhance efficiency and fairness [3][5] - The carbon price has fluctuated, with recent trading at approximately 69.69 yuan per ton, and is anticipated to rise gradually as the market expands and regulations tighten [6][9] Group 3 - The national carbon market consists of two parts: a mandatory trading market for key emitters and a voluntary market for encouraging self-reduction [7] - The recent policy suggests a potential adjustment in the ratio of voluntary reduction credits that can offset carbon emissions, which could impact market prices and trading volumes [7][9] - Financial institutions and enterprises show strong interest in carbon finance, with expectations for new trading products and improved regulations to facilitate carbon asset management [8][9]