On May 29, the General Office of the Central Committee of the Communist Party of China and the General Office of the State Council jointly issued opinions on improving the market-oriented allocation system of resources and environmental factors.
Improving the market-oriented allocation system of resources and environment factors and promoting the market-oriented trading of carbon emission rights, water use rights and emission rights are the decisive measure to improve the utilization efficiency of resources and environment factors. In order to deepen the reform of market-oriented allocation of resources and environmental factors, with the consent of the Party Central Committee and the State Council, the following opinions are put forward.
First, the overall requirement
is to adhere to Xi Jinping Thought on Socialism with Chinese Characteristics for a New Era as a guide, thoroughly implement the spirit of the 20th National Congress of the CPC and the Second and Third Plenary Sessions of the 20th Central Committee, comprehensively implement the economic thought of Xi Jinping and the ecological civilization thought of Xi Jinping, adhere to and strengthen the overall leadership of the Party, adhere to the general tone of steady progress, and strive to build a well-off society in an all-round way. We should adhere to an effective market and a promising government, adhere to problem-oriented and classified policies, adhere to goal-oriented and coordinated promotion, adhere to gradual progress and risk prevention, establish and improve the system of quota allocation, market trading, supervisio n and management of resource and environmental factors, improve the market of resource and environmental factors trading, and improve the market of resource and environmental factors trading with clear powers and responsibilities. Promote resources and environmental factors to support the development of new quality productivity, coordinate the promotion of carbon reduction, pollution reduction, green expansion and growth, and accelerate the comprehensive green transformation of economic and social development.
The main objectives are: by 2027, the trading system of carbon emission rights and water rights will be basically improved, the trading system of emission rights will be established and improved, the market-oriented mechanism of energy conservation will be more sound, the trading market of resource and environmental factors will be more active, the price formation mechanism will be more sound, the smooth flow and efficient allocation of resource and environmental factors will be promoted, and the market potential will be fully released. The supporting role of relevant resources and environment objectives has been effectively enhanced.
2. Improving the quota allocation system
of resources and environment factors (1) Strengthening the convergence of resources and environment objectives. We will strengthen the link between carbon emissions trading and the dual control system of carbon emissions, and promote the gradual shift of the national carbon emissions trading market from intensity control to total quota control. We will strictly control both the total amount and intensity of water use, and promote the convergence of water rights trading, river water allocation, water resources regulation, water intake permit management, planned water use management, and water intake supervision. We will strengthen the linkage between emission rights and emission permits, and promote the establishment of an emission trading system with emission permits as the confirmation certificate and regulatory carrier.
(Two) improve the quota allocation and transfer system. We should coordinate carbon emission control targets, industry development stages and historical emissions, optimize the allocation scheme of carbon emission quotas, steadily implement a combination of free and paid allocation methods, and increase the proportion of paid allocation in an orderly manner. We should adhere to the principle of water determination and water measurement, highlight water-saving orientation, coordinate water demand for life, production and ecology, improve the initial allocation system of water rights, and clarify regional water rights, water intake rights and water rights of irrigation water users. To explore the implementation of paid transfer of water rights in areas with serious shortage and overload of water resources, new industrial water should be obtained in the water rights trading market in principle. We will strengthen the links between the approved amount of emission rights and the permitted emissions, the subject of emission trading and the list of classified management of pollutant discharge units, and accelerate the construction of a technical system for the approval of emission rights that reflects the orientation of continuous improvement of environmental quality, the technical level of the industry and the characteristics of pollutant discharge. We will promote the implementation of paid allocation of initial emission rights for key pollutants in the fields of air and water.
3. Optimizing the trading scope
of resources and environmental factors (3) Improving the coverage of the carbon market. Combining with the needs of carbon peak and carbon neutralization, the potential of carbon reduction in the industry and the basis of carbon emission accounting, we will steadily expand the coverage of the national carbon emission trading market, expand the trading subjects, and enrich the trading varieties and methods. We will improve the national greenhouse gas voluntary emission reduction trading market and gradually expand the areas of support. Strengthen the connection between the green certificate and the national carbon emission trading market and the national voluntary greenhouse gas emission reduction trading market, so as to avoid the repeated benefits of the trading subjects from the green certificate trading and the national voluntary greenhouse gas emission reduction trading. Based on the self-construction of the domestic market, we should actively promote the convergence and mutual recognition with relevant international mechanisms.
(Four) improve the market-oriented mechanism of energy conservation. We should adhere to the principle of giving priority to conservation, improve the energy-saving management system throughout the whole chain of energy production and consumption, develop comprehensive service modes such as energy-saving consultation, diagnosis, design, financing, transformation and trusteeship, and constantly expand the energy-saving service industry. We will strengthen the coordination between energy trading and carbon emissions trading, and promote the orderly withdrawal of energy trading pilot projects in relevant regions in light of the development of the national carbon emissions trading market, so as to avoid duplication of performance and increase the burden on enterprises.
(5) Enriching the types of water rights transactions. Actively explore and standardize the promotion of water rights trading across provincial administrative regions in key river basins such as the Yellow River. Promote industrial enterprises and irrigation areas to strengthen water-saving transformation, and support surplus water to participate in water rights market transactions. Social capital is encouraged to obtain reasonable benefits by participating in the construction and operation of water-saving projects such as water-saving irrigation and transferring water-saving water rights. We will promote unconventional water trading such as reclaimed water, rainwater collection and storage, desalinated seawater, mine (well) water and brackish water according to local conditions, and improve relevant systems.
(Six) continue to deepen emission trading. Establish and improve the system of paid use and trading of emission rights in provincial administrative regions according to local conditions, expand the main body of trading, and enrich the variety and mode of trading. Supporting all regions to expand the variety and regional scope of emission trading in an orderly manner according to the needs of pollution prevention and control work. Deepen the regional integration of emission trading in the Yangtze River Delta. Explore the development of emission trading across provincial administrative regions in the same river basin.
4. Improve the trading system
of resources and environmental factors (7) Incorporate it into the public resources trading platform system. According to the progress of market-oriented allocation reform of resources and environment factors, and in accordance with the principle of "mature one, incorporate one", carbon emission rights, water rights, emission rights and other transactions will be orderly incorporated into the public resources trading platform system to promote the convergence and sharing of transaction data. Strengthen the summary of pilot experience, straighten out the relationship between local market and national market, no longer build new local or regional carbon emissions trading market, strengthen the guidance and supervision of local carbon emissions trading market, and accelerate the construction of a unified national water rights trading market.
(8) Strengthen the construction of trading rules. We will improve the system of confirmation, registration, mortgage and circulation of resources and environmental elements, clean up policies that do not meet the requirements of reform, improve the rules of data collection, product trading, information dissemination, supervision and management, and improve business processes, data management and risk prevention.
(Nine) improve the reserve adjustment system. Establish and improve the reserve and adjustment system of resource and environment factors, and form a reserve bank of resource and environment factors by reserving initial quotas, recovering invalid quotas, repurchasing surplus quotas and developing incremental quotas. According to the management objectives, development needs, market supply and demand situation, timely and appropriate storage, sale and delivery of relevant resources and environmental factors, strengthen market regulation and expected guidance.
(Ten) improve the price formation mechanism. We should adhere to the principle of marketization, classify and improve the price formation mechanism of resource and environmental factors, fully reflect the relationship between supply and demand in the market, the degree of scarcity of resources, the cost of environmental damage and the value of ecological products, give full play to the role of price leverage, and promote the efficient and rational allocation of resource and environmental factors. Relying on the trading market of resources and environmental factors, we should establish and improve relevant systems such as price monitoring and information dissemination.
(11) Strengthen market supervision. We will strengthen supervision over resource and environmental factor trading institutions, trading entities, and third-party service agencies, and investigate and punish data fraud, illegal trading, and market manipulation in accordance with the law and regulations. Strengthen the supervision of the whole process of water rights trading, and strengthen the supervision of the third-party impact and ecological impact of water rights trading. We will speed up the construction of a credit system for the trading market of resources and environmental factors, disclose credit information in accordance with the law and regulations, and punish serious dishonesty. Strengthen the information network security construction of the trading system, improve the data security protection system, and prevent the leakage of sensitive data and information.
5. Strengthen the basic capacity building
of resource and environment factor trading (12) Improve regulations and standards. We should study and improve the relevant legal system and further clarify the trading principles of resources and environmental factors. We will scientifically formulate and revise standards for carbon emission accounting, water use quotas, and pollutant discharge, and accelerate the updating of energy-saving standards for key industries and important equipment.
(13) Strengthen the ability of monitoring and accounting. Strengthen the capacity building of monitoring and accounting of carbon emissions, water use and pollutant emissions, improve relevant accounting technical specifications, and improve the authenticity, accuracy and effectiveness of transaction data. We will further promote the pilot project of carbon emission monitoring in key industries, and improve the technical route and implementation path of carbon emission monitoring. Strengthen the monitoring and measurement of water intake, and comprehensively enhance the monitoring, early warning and management capabilities of water resources. Speed up the construction of sewage monitoring system.
(Fourteen) improve the financial support system. We will actively and steadily promote the participation of financial institutions in the construction of resource and environmental factors trading markets, and guide financial institutions to develop green credit, green insurance, green bonds and other financial products and services related to resource and environmental factors on the premise of compliance with the law, controllable risks and sustainable business. Promote financial institutions to standardize the disclosure of information related to green finance. Promote the unified registration and publicity of guarantee business related to carbon emission rights, water use rights and emission rights.
(Fifteen) improve the level of market service. To cultivate and develop third-party service institutions and provide comprehensive services such as accounting and verification of resources and environmental elements, valuation, consultation and training. The relevant trading platforms of the resource and environment factor trading market can cooperate with financial institutions and third-party service institutions in accordance with the law and regulations to provide services such as ownership confirmation, circulation transaction and value evaluation.
6. Under the centralized and unified leadership of
the Party Central Committee, relevant departments in all regions should carry out their work according to their responsibilities, improve reform measures and carry out innovative exploration in light of actual conditions. The National Development and Reform Commission, in conjunction with relevant departments, should strengthen the evaluation of work progress and analyze and study new situations and problems. Major matters shall be reported to the Party Central Committee and the State Council in a timely manner in accordance with the procedures.