Interim rules for carbon dioxide emissions trading management took effect in February, a key step forward in pursuit of China's national emissions trading system. 

Earlier in 2020, China announced that it would peak carbon dioxide emissions by 2030 and achieve carbon neutrality by 2060, thus prioritizing the missions in 2021.

As the world's second-largest economy and the biggest investor in renewable energy sources, China is walking the talk on its carbon neutrality pledge. The country has been shouldering its responsibility of tackling climate change and fulfilling its commitment to carbon neutrality.

"Peaking carbon dioxide emissions and achieving carbon neutrality will bring about a sci-tech revolution, resulting in major changes across the economy and society, which is no less important than the three previous industrial revolutions," Wang Zhigang, Chinese Minister of Science and Technology, said at the Xiangshan Science Conferences in Beijing in April.

Coal-fired power remains a major energy source. According to an industrial report released by the China National Coal Association, the country's annual coal output will stand at no higher than 4.1 billion tons by the end of the 14th Five-Year Plan (2021-25) period.

During the period, the country will implement stricter carbon emission control measures, further develop non-fossil energy, improve the absorption capacity of photovoltaic, wind power and other new energy, and develop advanced technologies and industries, such as hydrogen production, from renewable energy.

This is an edited excerpt of an article originally published in China News Week on May 31