the country's cumulative trading volume of carbon emission quota had reached 194 million tons, with a total trading value of 8.492 billion yuan ($1.25 billion).

Accelerated steps should be made to build up China's carbon footprint management system on batteries for new energy vehicles as well as the carbon emissions market to guide the country's low-carbon development, lawmakers and political advisers said during the two sessions that ended recently.

China has announced that it would aim to peak its carbon dioxide emissions before 2030 and achieve carbon neutrality before 2060, which is an important commitment to align the country's emissions targets with the 26th UN Climate Change Conference of the Parties' global agenda to reduce the risks of climate change.

More efforts should be made to establish green and low-carbon data centers with higher computing efficiency and less power consumption, a move which industry insiders said aligns with China's pledge to peak the country's carbon dioxide emissions by 2030 and achieve carbon neutrality by 2060.

China is taking solid steps to foster a green, low-carbon path of high-quality development, as it aims to meet its ambitious goals of peaking carbon dioxide emissions before 2030 and achieving carbon neutrality before 2060, political advisers said on Mar.10.

Banks should have a good understanding of information on corporate carbon emissions and accurately assess which companies may have to cut production or exit a market so they can adjust loan structures and prevent financial risks

China's green bond market is likely to expand in 2022 and for years to come as the country is spurring investment into its pursuit of peaking carbon emissions and reaching carbon neutrality, analysts and industry insiders say.

Some banks said they have received funds through the carbon emissions reduction facility launched by China's central bank, as the country accelerated the transition toward a greener economy.