Since China's electricity market reform in 2015, a diversified competition pattern has been initially formed, and the commodity attributes of power have gradually emerged, further enhancing the role of the market in optimizing the allocation of resources and increasing the scale of market-traded power. 2023 is the first year of economic recovery and development after three years of COVID-19 pandemic prevention and control, when China's power reform has entered the “fast track”, the reform of the national unified electricity market has achieved positive results, with auxiliary services, virtual power plants and other regulation methods being increasingly improved, and green power and green certificate transactions continuing to deepen. So far, China's multi-level electricity market system has been formed. In the future, it is expected that China will continue to accelerate the establishment of a sound market-based tariff system, optimize the construction layout of the new power system, and further promote the green and low-carbon transformation of electric power.