China’s Carbon Emission Peak Goals, Strategies and Policies

China’s energy supply structure is characterized by high carbon emissions, a large carbon emission base, a low level of economic development at the time of peak carbon emissions, and a short time interval from peak carbon emissions to carbon neutrality, and these characteristics determine that China needs to make strenuous efforts to achieve the goals of peak carbon emissions and carbon neutrality. Peak carbon emissions is a prerequisite for carbon neutrality, and the timing and peak directly determine the implementation cost of carbon neutrality. As China is still in the primary stage of socialism and will be in the long-term, facing the huge pressure of carbon emission reduction, it needs to balance the multi-dimensional goals of economic growth, employment stability, environmental improvement, industrial upgrading, security operation, etc., and needs to coordinate the multiple links involved in the process of green transformation, such as asset stock, future increment, technology path, financial constraints, norms and standards, policy measures, etc. Its multiple contradictions are intertwined and very complex. Therefore, to achieve peak carbon emissions, we must focus on the principal contradiction. China’s carbon emissions are significantly concentrated in a few major industries and regions, so these high-emission industries and regions are the principal contradiction in achieving peak carbon emissions. To promote China’s early achievement of peak carbon emissions, we should adhere to the principles of seeking progress in a stable manner and adapting to local conditions, focusing on high-emission industries and high-emission regions, and incentivizing carbon emission reduction using a combination of price mechanisms and government regulations.