Group 1 - The national carbon market in China has expanded to include high-energy and high-emission industries such as steel, cement, and aluminum smelting, now covering over 60% of the country's carbon dioxide emissions [2] - The Chinese approach to low-carbon green technology and industry development emphasizes source governance, direct innovation incentives, low transaction costs, and compatibility with growth, differing from the demand-side incentives seen in the EU [2][3] - The rapid growth of green low-carbon investment, production, and consumption has become a significant driver of China's economic growth, with the government’s "dual carbon" goals providing a clear and stable long-term framework for innovation and investment [3][4] Group 2 - The energy system is crucial for China's green transition, with a strong demand for electricity projected to double by 2060, necessitating a shift from fossil fuels to renewable energy sources [4] - Concerns about overcapacity in the renewable energy sector are deemed short-term and localized, with significant growth potential remaining to meet carbon neutrality goals [5] - The national carbon market has seen significant developments since its launch in 2021, with the introduction of new trading mechanisms and an increase in the number of covered emission units [6][7] Group 3 - The inclusion of the steel industry in the carbon market is expected to accelerate its low-carbon transformation and optimize production capacity, although short-term cost pressures may affect small and medium enterprises [6] - The carbon market serves as an important policy tool for addressing climate change and promoting a comprehensive green low-carbon transition in the economy [7] - A proposed new trading mechanism could incentivize innovation in low-carbon technologies by allowing high-carbon companies to purchase carbon credits from innovative green enterprises, creating a direct link between carbon pricing and innovation [7]