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Improving the Pricing Mechanism for Green and Low-Carbon Development

刘耀彬:完善绿色低碳发展价格机制

· · Modern Chinese History · Chinese Social Sciences Today, 24 February 2025 · 12 min read

Implementing prices for green and low-carbon development is an important part of improving the mechanism for green and low-carbon development. Promoting the greening and low-carbon transformation of economic and social development is not only a key link in achieving high-quality development, but also a fundamental policy for solving China’s resource, environmental, and ecological problems, and an inherent requirement for building a modernization in which humanity and nature coexist harmoniously.

实施绿色低碳发展价格是健全绿色低碳发展机制的重要内容。推动经济社会发展绿色化、低碳化,既是实现高质量发展的关键环节,也是解决我国资源环境生态问题的基础之策、建设人与自然和谐共生现代化的内在要求。

The price for green and low-carbon development is a market mechanism that fully reflects the market supply-demand relationship, the degree of resource scarcity, and the cost of green and low-carbon development through the price of products. Its focus is on solving the practical difficulties in realizing the value of ecological products and the urgent issues of carbon pricing related to climate change. The price for green and low-carbon development mainly includes ecological product prices and carbon pricing. The price of ecological products should not only reflect their scarcity premium, but also include the internalization of their external economies. Carbon pricing internalizes the negative externalities of carbon emissions, and is more flexible and economically effective. This is determined by the major deployment to accelerate the improvement of the institutions and mechanisms for implementing the concept that “clear waters and lush mountains are invaluable assets” [1]1 “Clear waters and lush mountains are invaluable assets” (绿水青山就是金山银山) — a guiding principle proposed by Xi Jinping emphasizing the economic value of ecological goods. and to actively and prudently advance the work of reaching peak carbon emissions and achieving carbon neutrality [2]2 “Reaching peak carbon emissions and achieving carbon neutrality” (碳达峰碳中和) — China’s strategic goals to peak CO₂ emissions before 2030 and achieve carbon neutrality before 2060..

绿色低碳发展价格是通过产品的价格全面反映其市场供求关系、资源稀缺程度和绿色低碳发展成本的市场机制,其重点在于解决生态产品价值实现的现实难题和与气候变化相关碳价的紧迫问题。绿色低碳发展价格主要包括生态产品价格和碳定价。生态产品价格既应体现其稀缺性溢价,又应包含其外部经济性的内部化。碳定价将碳排放的负外部性内部化,更加灵活、经济有效。这是由加快完善落实“绿水青山就是金山银山”理念的体制机制、积极稳妥推进碳达峰碳中和的重大部署决定的。

From the resource and environmental price mechanism to the green and low-carbon development price mechanism, it reflects the continuous deepening of the essential understanding of ecological civilization. In 2007, the report of the 17th National Congress of the CPC [3]3 The 17th National Congress of the CPC — held in October 2007. emphasized the need to “improve the formation mechanism for prices of factors of production and resources that fully reflect market supply-demand relations, resource scarcity, and environmental damage costs.” Entering the New Era, the Third Plenary Session of the 18th Central Committee [4]4 The Third Plenary Session of the 18th Central Committee — held in November 2013, a key meeting that set a comprehensive reform agenda. proposed to “accelerate the reform of prices for natural resources and their products, comprehensively reflecting market supply and demand, resource scarcity, ecological and environmental damage costs, and restoration benefits.” In May 2018, the National Conference on Ecological and Environmental Protection proposed to fully utilize market-based means and improve the resource and environmental price mechanism. In October 2022, the report of the 20th National Congress of the CPC [5]5 The 20th National Congress of the CPC — held in October 2022. emphasized the need to improve the fiscal, tax, financial, investment, and price policies and standard systems that support green development. In July 2023, the National Conference on Ecological and Environmental Protection further proposed to improve the economic policies for green and low-carbon development, and strengthen fiscal support, tax policy support, financial support, and price policy support. In July 2024, the Third Plenary Session of the 20th Central Committee [6]6 The Third Plenary Session of the 20th Central Committee — held in July 2024, focused on further deepening reform. pointed out the need to implement fiscal, tax, financial, investment, and price policies and standard systems that support green and low-carbon development.

从资源环境价格机制到绿色低碳发展价格机制,体现了生态文明建设的本质性认识不断深化。2007年,党的十七大报告强调要“完善反映市场供求关系、资源稀缺程度、环境损害成本的生产要素和资源价格形成机制”。进入新时代,党的十八届三中全会提出“加快自然资源及其产品价格改革,全面反映市场供求、资源稀缺程度、生态环境损害成本和修复效益”。2018年5月,全国生态环境保护大会提出,要充分运用市场化手段,完善资源环境价格机制。2022年10月,党的二十大报告强调,完善支持绿色发展的财税、金融、投资、价格政策和标准体系。2023年7月,全国生态环境保护大会进一步提出,要完善绿色低碳发展经济政策,强化财政支持、税收政策支持、金融支持、价格政策支持。2024年7月,党的二十届三中全会指出,实施支持绿色低碳发展的财税、金融、投资、价格政策和标准体系。

Making the Non-Monetary Value of the Ecological Environment Explicit

生态环境非货币化价值的显性化

Implementing the price mechanism for green and low-carbon development is an inherent requirement for deepening the reform of the ecological civilization system. Implementing price policies and standard systems for green and low-carbon development is an important part of improving the mechanism for green and low-carbon development, and improving the mechanism for green and low-carbon development reflects the effect orientation of deepening the reform of the ecological civilization system. The price mechanism plays an irreplaceable and important role in optimizing resource allocation, promoting resource conservation, and protecting the ecological environment. Incorporating the reform of the price mechanism into the process of building an ecological civilization is a long-term deployment of the Party Central Committee. Deepening the reform of the ecological civilization system requires promoting the reform of prices for green and low-carbon development, accelerating the improvement of resource and environmental price policies, promoting the inclusion of ecological and environmental costs into economic operation costs, strengthening the principle that polluters and users pay, and that protectors and savers benefit, promoting carbon emission reduction, resource conservation, and environmental protection, and continuously meeting the people’s growing needs for a beautiful ecological environment.

实施绿色低碳发展价格机制是深化生态文明体制改革的内在要求。实施绿色低碳发展价格政策和标准体系是健全绿色低碳发展机制的重要内容,健全绿色低碳发展机制体现深化生态文明体制改革的效果导向。价格机制对优化资源配置、促进资源节约和保护生态环境具有不可替代的重要作用,将价格机制改革纳入生态文明建设进程是党中央的长期部署。深化生态文明体制改革,要求推进绿色低碳发展价格改革,加快完善资源环境价格政策,推动生态环境成本纳入经济运行成本,强化污染者使用者付费、保护者节约者受益,促进碳减排、资源节约和环境保护,不断满足人民日益增长的优美生态环境需要。

Implementing the price mechanism for green and low-carbon development is a key path for implementing the concept that “clear waters and lush mountains are invaluable assets.” Clear waters and lush mountains are not only natural wealth and ecological wealth, but also social wealth and economic wealth. Natural resources are the material basis for forming and realizing the value of ecological products. Realizing the value of ecological products is a practical path to open up the transformation channel of the “Two Mountains” [7]7 “Two Mountains” (两山) — shorthand for the concept “clear waters and lush mountains are invaluable assets.”, which can transform the “surplus” and “increment” of ecosystem services contained in “clear waters and lush mountains” into “invaluable assets.” At present, accelerating the realization of the value of ecological products has become a task of the times for practicing the “Two Mountains” concept. During the 14th Five-Year Plan [the 14th Five-Year Plan] and for a longer period, the realization of the value of ecological products and their marketization will be the main focus of green and low-carbon development. In the process of implementing prices for green and low-carbon development, reasonably pricing ecological products in the market is a key measure to promote the realization of the value of ecological products. It is necessary to fully reflect the supply-demand relationship in transactions, and also to embody the external impact and marginal value of ecological products. This reflects the mining of the mobility of ecological resources in terms of factor input, emphasizing the making explicit of the non-monetary value of the ecological environment.

实施绿色低碳发展价格机制是落实“绿水青山就是金山银山”理念的关键路径。绿水青山既是自然财富、生态财富,又是社会财富、经济财富。自然资源是形成和实现生态产品价值的物质基础。生态产品价值实现是打开“两山”转化通道的现实路径,能够将“绿水青山”蕴含的生态系统服务“盈余”和“增量”转化为“金山银山”。当前,加快推动生态产品价值实现已经成为践行“两山”理念的时代任务,“十四五”和更长一个时期,生态产品价值实现及其市场化将是绿色低碳发展的主要抓手。实施绿色低碳发展价格过程中,对于生态产品进行市场化合理定价,是推动生态产品价值实现的关键举措,需要对交易中的供求关系有充分反映,而且要体现生态产品的外部性影响和边际价值。这体现了要素投入上对生态资源流动性的挖掘,强调生态环境非货币化价值的显性化。

Implementing the price mechanism for green and low-carbon development is an inherent part of building a community with a shared future for mankind. Achieving the goals of reaching peak carbon emissions and carbon neutrality is not only an important part of building a community with a shared future for mankind, but also an important means of actively participating in global climate governance. Achieving the “dual carbon” goals is “China’s responsibility to promote the building of a community with a shared future for mankind and its inherent requirement for achieving sustainable development,” and is China’s solemn commitment to the world. The national carbon emissions trading market [8]8 National carbon emissions trading market — a market-based mechanism established in 2021 to control greenhouse gas emissions. is an institutional innovation that uses market mechanisms to control and reduce greenhouse gas emissions and promote green and low-carbon development. The national carbon market releases price signals for carbon emission reduction and provides economic incentive mechanisms, directing funds to industries and enterprises with large emission reduction potential, promoting green and low-carbon technological innovation, driving breakthroughs in cutting-edge technologies and the green and low-carbon development transformation of high-emission industries. The carbon emissions trading system is an important measure for China to lead global greenhouse gas emission reduction and promote the building of a community with a shared future for mankind in the New Era.

实施绿色低碳发展价格机制是构建人类命运共同体的应有之义。实现碳达峰、碳中和,既是构建人类命运共同体的重要一环,也是积极参与全球气候治理的重要手段。实现“双碳”目标,是中国“推动构建人类命运共同体的责任担当和实现可持续发展的内在要求”,是中国对世界的庄严承诺。全国碳排放权交易市场是利用市场机制控制和减少温室气体排放、推动绿色低碳发展的一项制度创新。全国碳市场为碳减排释放价格信号,并提供经济激励机制,将资金引导至减排潜力大的行业企业,推动绿色低碳技术创新,推动前沿技术创新突破和高排放行业的绿色低碳发展转型。碳排放权交易制度是我国在新时代引领全球温室气体减排、推动构建人类命运共同体的重要举措。

Improving the Pricing Mechanism for Green and Low-Carbon Development

健全绿色低碳发展价格机制

Improving the price formation mechanism for the efficient allocation of resource and environmental factors. The market-oriented allocation reform of resource and environmental factors is aimed at better leveraging the role of the market mechanism, maintaining market order, and remedying market failures. It plays an important role in optimizing and maximizing the efficiency of resource allocation. Resource and environmental factors have the characteristics of public goods and experience varying degrees of market failure, requiring overall consideration, systematic planning, and coordinated promotion. Deepen the market-oriented reform of resource and environmental prices, improve the market trading system for resource and environmental factors and the voluntary emission reduction trading system for greenhouse gases, so that the prices of resource and environmental factors are determined by the market, their flow is autonomous and orderly, and their allocation is efficient and fair. Accelerate the construction of a scientific, standardized, and efficient emission rights trading market. Accelerate the creation of a Chinese-style carbon market that is more effective, more dynamic, and has greater international influence.

健全资源环境要素高效配置的价格形成机制。资源环境要素市场化配置改革是为了更好发挥市场机制作用,维护市场秩序、弥补市场失灵,对于实现资源配置效率最优化和效益最大化具有重要作用。资源环境要素具有公共产品特性,存在不同程度的市场失灵现象,需要统筹兼顾、系统谋划、协同推进。深化资源环境价格市场化改革,健全资源环境要素市场交易制度、温室气体自愿减排交易制度,实现资源环境要素价格市场决定、流动自主有序、配置高效公平。加快构建科学规范、高效流转的排污权交易市场,加快打造更加有效、更有活力、更具国际影响力的中国式碳市场。

Innovating the price guidance mechanism for development and security in key areas. Carbon pricing is an important policy tool for achieving carbon neutrality. However, China’s carbon pricing system still suffers from problems such as insufficient connection with overall climate policy objectives, unclear property rights nature of the carbon market, and inactive market participants. It is necessary to accelerate the research and implementation of the establishment of carbon asset property rights, strengthen climate information disclosure, and provide policy support for the confirmation of carbon asset rights. With the national carbon emissions trading market as the main body, improve the carbon pricing mechanism, and explore price support policies conducive to promoting carbon emission reduction. Improve the national unified green electricity certificate [9]9 Green electricity certificate (绿证) — a certification that verifies the generation of a specified amount of renewable energy. trading system, expand the scope of green certificate issuance and trading, expand the green certificate trading platform, promote full coverage of green certificate issuance, and ensure coordination with the carbon market. Build international standards and certification mechanisms for green energy, and establish a product carbon footprint management system and a product carbon labeling certification system.

创新重点领域发展和安全的价格引导机制。碳定价是实现碳中和目标的重要政策工具。但我国碳定价制度还存在与总体气候政策目标联系不足、碳市场产权性质不明确、市场主体不活跃等问题。要加快碳资产产权确立的研究和实施,加强气候信息披露,为实现碳资产确权提供政策支撑。以全国碳排放权交易市场为主体,完善碳定价机制,探索有利于促进碳减排的价格支持政策。完善全国统一的绿色电力证书交易体系,扩大绿证核发和交易范围,拓展绿证交易平台,推动绿证核发全覆盖,做好与碳市场的衔接。建设绿色能源国际标准和认证机制,建立产品碳足迹管理体系和产品碳标识认证制度。

Improving the price regulation mechanism for reasonable pricing of ecological products. Improve the long-term mechanism for stabilizing the market price of ecological products. It is necessary to improve the marketization mechanism for ecological products, establish a market-oriented system for ecological product prices, trading, taxes and fees, and compensation, promote precise docking between supply and demand sides of ecological products, reduce the cost of converting the value of ecological products, expand the models for realizing the value of ecological products, strengthen financial support for realizing the value of ecological products, and enhance the enthusiasm of local governments and enterprises to promote the realization of the value of ecological products. For ecological products that involve people’s livelihoods and mass needs and have a significant impact on social development, market price fluctuations will have a large impact on society. Their value can be realized on the basis of government-guided prices.

完善生态产品定价合理的价格调控机制。健全促进生态产品市场价格稳定的长效机制。应完善生态产品市场化机制,建立生态产品价格、交易、税费、补偿等市场化体系,推进生态产品供需端精准对接,降低生态产品价值转化成本,拓展生态产品价值实现模式,加强生态产品价值实现的金融支持,提高地方和企业推动生态产品价值实现的积极性。对于涉及民生和大众需求、对社会发展有重大影响的生态产品,市场价格波动会对社会产生较大影响,可以在政府指导价格的基础上实现生态产品价值。

Optimizing the price supervision mechanism for promoting green and low-carbon development. Strengthen ex-ante guidance and prevention as well as in-process and ex-post supervision, and standardize market price behavior. Continuously summarize the experience of carbon emissions trading and management, develop or improve operable standards, methods, and other supporting documents for transaction business rules, risk prevention and control, information disclosure and sharing, technical services, etc., and optimize the rule system. Strengthen the synergy between industry enterprise self-discipline, social supervision, and government supervision, and improve the multi-governance model. Enterprises, as market entities, strive to play roles in meeting emission standards, energy conservation and emission reduction, green production, and ecological demonstration. Social organizations and the public should fully play an active role in environmental science popularization and publicity, environmental protection supervision, green consumption, and expression of environmental demands. The government shall establish a management platform for the national carbon emissions trading market, strengthen the whole-process supervision of carbon emissions trading and related activities, and achieve information sharing with relevant departments.

优化促进绿色低碳发展的价格监管机制。强化事前引导预防和事中事后监管,规范市场价格行为。不断总结碳排放权交易和管理的经验,针对交易业务规则、风险防控、信息披露与共享、技术服务等制定或完善具有可操作性的标准、办法等配套文件,优化规则体系。加强行业企业自律、社会监督与政府监管的协同配合,完善多元治理模式。企业作为市场主体,着力落实达标排放、节能减排、绿色生产与生态示范等作用。社会组织与公众应充分发挥在环境科普宣传、环境保护监督、绿色消费、环境诉求表达等方面的积极作用。政府建立全国碳排放权交易市场管理平台,加强对碳排放权交易及相关活动的全过程监管,并与有关部门实现信息共享。

Strengthening the basic capacity for price governance of green and low-carbon development. Improve the price monitoring and early warning system for green and low-carbon development. Optimize the price monitoring and reporting system, enrich monitoring varieties, innovate monitoring methods, expand monitoring channels, improve the level of monitoring informatization, strengthen the linkage between monitoring and early warning and supervision and law enforcement, and enhance timeliness and pertinence. Improve laws and regulations related to prices for green and low-carbon development, accelerate the revision of the Price Law, the Provisions on Administrative Penalties for Price Violations, and other laws and regulations, and develop and improve rules and regulations for government pricing, price regulation, and price supervision and inspection. Accelerate the promotion and application of green and low-carbon technologies, focus on using the carbon trading market to promote the research, development, and promotion of advanced low-carbon technologies, induce green technology innovation for energy conservation, emission reduction, end-of-pipe treatment, and clean production, provide shadow prices [10]10 Shadow price — an economic concept representing the implicit price of a non-market good or externality, used here as a tool to value environmental costs and benefits. for investment and research and development in green technology innovation, and eliminate the positive externalities of insufficient innovation motivation of enterprises.

强化绿色低碳发展价格治理基础能力。健全绿色低碳发展价格监测预警体系。优化价格监测报告制度,丰富监测品种、创新监测方式、拓展监测渠道、提升监测信息化水平,强化监测预警与监管执法联动,增强时效性和针对性。完善绿色低碳发展价格相关法律法规,加快修订价格法、价格违法行为行政处罚规定等法律法规,制定完善政府定价、价格调控、价格监督检查等规章制度。加快绿色低碳科技推广应用,注重应用碳交易市场推进先进低碳技术研发和推广,诱导节能减排、末端治理、清洁生产的绿色技术创新,为绿色技术创新投资和研发提供影子价格,消除企业创新动力不足的正外部性。

Correctly Handling Four Pairs of Relationships in Green and Low-Carbon Development

正确处理好绿色低碳发展的四对关系

Correctly handling the relationship between high-quality development and high-level protection. High-quality development is the prerequisite for high-level protection, and high-level protection is an important support for high-quality development. The two are unified in the green and low-carbon transformation of the development model. Currently, China is comprehensively promoting the reform of water resource fees into taxes [11]11 Reform of water resource fees into taxes (水资源费改税) — a policy shift from administrative fees to a tax for water resource usage, implemented in pilot areas since 2016., improving the market-oriented allocation system for environmental factors such as emission rights and carbon emission rights, improving the mechanism for realizing the value of ecological products and the horizontal ecological protection compensation mechanism, and stimulating the endogenous power to protect the ecological environment. It can be seen that the practical prerequisite for improving the green and low-carbon price mechanism is to correctly handle the mutually reinforcing and complementary relationship between high-quality development and high-level protection.

正确处理高质量发展和高水平保护的关系。高质量发展是高水平保护的前提,高水平保护是高质量发展的重要支撑,二者统一于发展方式的绿色低碳转型。当前,我国正全面推行水资源费改税,健全排污权、碳排放权等环境要素市场化配置体系,健全生态产品价值实现机制、横向生态保护补偿机制,激发保护生态环境的内生动力。可见,完善绿色低碳价格机制的实践前提,是要正确处理高质量发展和高水平保护之间相辅相成、相得益彰的关系。

Correctly handling the relationship between an effective market and an enabling government [12]12 Enabling government (有为政府) — a term in Chinese discourse indicating a government that actively and effectively performs its functions in the economy, in coordination with market forces.. The core of the price mechanism reform lies in correctly handling the relationship between the government and the market. The actual meaning behind this lies in correctly distinguishing the primary and secondary differences between the “economic attributes” and “non-economic attributes” of goods and services. Currently, the green and low-carbon technological means to overcome the externality problem of pollution prevention (i.e., solving the problem of asymmetry between benefits and costs) are relatively abundant. However, improving the price for green and low-carbon development still requires, to the greatest extent possible, restoring the economic attributes of the ecological environment and the price attributes associated with them, and further clarifying the relationship between the government and the market, so that the market plays a decisive role in resource allocation and the government better plays its role. It can be seen that the cognitive core of improving the green and low-carbon development price mechanism is to correctly handle the mutually complementary and coordinated relationship between an effective market and an enabling government.

正确处理有效市场和有为政府的关系。价格机制改革的核心在于正确处理政府与市场的关系。其背后的实际含义在于正确辨明商品和服务在“经济属性”与“非经济属性”的主次之别。当前,克服污染防治外部性问题(即解决收益和成本不对称问题)的绿色低碳技术手段较为丰富,但是完善绿色低碳发展价格尚需在最大程度上还原生态环境中的经济属性及其背后关联的价格属性,并进一步厘清政府和市场的关系,使市场在资源配置中起决定性作用和更好地发挥政府的作用。可见,完善绿色低碳发展价格机制的认识核心就是要正确处理有效市场和有为政府之间相互补充、相互协调的关系。

Correctly handling the relationship between unity, openness, and orderly competition. Improving the market-oriented allocation of factors is an inherent requirement for building a unified, open, and orderly competitive market system. The report of the 20th National Congress of the CPC proposed improving the market-oriented allocation system for resource and environmental factors. The market-oriented allocation system for resource and environmental factors sets total management objectives and allocation quotas by the government, and conducts market-oriented trading of important resource and environmental factors such as emission rights, energy use rights, water use rights, and carbon emission rights. Currently, the innovative development of market-oriented allocation of resource and environmental factors such as carbon emission rights trading is incentivizing technological innovation of market entities with higher efficiency and lower cost. It can be seen that the governance principle of improving the green and low-carbon development price mechanism is to correctly handle the organically unified and mutually promoting relationship between unity, openness, and orderly competition.

正确处理统一开放和竞争有序的关系。完善要素市场化配置是建设统一开放、竞争有序市场体系的内在要求。党的二十大报告提出,健全资源环境要素市场化配置体系。资源环境要素市场化配置体系以政府设定总量管理目标和分配额,并对排污权、用能权、用水权、碳排放权等重要资源环境要素开展市场化交易。当前,碳排放权交易等资源环境要素市场化配置的创新发展,正以更高效率、更低成本激励市场主体技术创新。可见,完善绿色低碳发展价格机制的治理原则就是要正确处理统一开放和竞争有序之间有机统一、相互促进的关系。

Correctly handling the relationship between external constraints and internal driving forces. Regularized external constraints can gradually rise to become internal driving forces, and internal driving forces can in turn react to external constraints, enhancing constraint effects and reducing constraint costs. Therefore, we must always adhere to using the strictest systems and the most rigorous rule of law to protect the ecological environment, maintain regular external pressure, and at the same time stimulate the internal drive of the whole society to jointly protect the ecological environment. As the world’s largest carbon emitter and energy consumer, China bears a major responsibility for energy conservation and emission reduction. Currently, China has built the world’s largest carbon market covering greenhouse gas emissions, and the expansion process of the national carbon market is advancing. Enhancing the endogenous power of enterprises and social investment entities to supply ecological products is an important proposition for implementing the mechanism for realizing the value of ecological products. China is establishing a market-oriented trading mechanism for resource rights indicators, improving the ecological compensation and damage compensation mechanism, building an industrialized operation and development mechanism for ecological products, and innovating new mechanisms for realizing the value of ecological products. It can be seen that the objective requirement for improving the green and low-carbon development price mechanism is to correctly handle the dialectically unified and mutually transformative relationship between external constraints and internal driving forces.

正确处理外部约束和内生动力的关系。常态化外部约束可以循序渐进上升为内生动力,内生动力则可以反作用于外部约束,提升约束效果、减轻约束成本。因此,必须始终坚持用最严格制度、最严密法治保护生态环境,保持常态化外部压力,同时激发全社会共同呵护生态环境的内生动力。中国作为全球最大的碳排放国与能源消费国,承担着节能减排的重大责任。当前,我国已建成全球覆盖温室气体排放量最大的碳市场,全国碳市场扩容进程正在推进。提升企业和社会投资主体供给生态产品的内生动力,是落实生态产品价值实现机制的重要命题。我国正建立资源权益指标市场化交易机制,健全生态补偿赔偿机制,构建生态产品产业化经营开发机制,创新生态产品价值实现新机制。可见,完善绿色低碳发展价格机制的客观要求就是要正确处理外部约束和内生动力之间辩证统一、相互转化的关系。

(The author is Party Secretary of Jiangxi University of Finance and Economics)

(作者系江西财经大学党委书记)

Online Editor: Huihui

网络编辑:慧慧

Notes

  1. “Clear waters and lush mountains are invaluable assets” (绿水青山就是金山银山) — a guiding principle proposed by Xi Jinping emphasizing the economic value of ecological goods. ↩
  2. “Reaching peak carbon emissions and achieving carbon neutrality” (碳达峰碳中和) — China’s strategic goals to peak CO₂ emissions before 2030 and achieve carbon neutrality before 2060. ↩
  3. The 17th National Congress of the CPC — held in October 2007. ↩
  4. The Third Plenary Session of the 18th Central Committee — held in November 2013, a key meeting that set a comprehensive reform agenda. ↩
  5. The 20th National Congress of the CPC — held in October 2022. ↩
  6. The Third Plenary Session of the 20th Central Committee — held in July 2024, focused on further deepening reform. ↩
  7. “Two Mountains” (两山) — shorthand for the concept “clear waters and lush mountains are invaluable assets.” ↩
  8. National carbon emissions trading market — a market-based mechanism established in 2021 to control greenhouse gas emissions. ↩
  9. Green electricity certificate (绿证) — a certification that verifies the generation of a specified amount of renewable energy. ↩
  10. Shadow price — an economic concept representing the implicit price of a non-market good or externality, used here as a tool to value environmental costs and benefits. ↩
  11. Reform of water resource fees into taxes (水资源费改税) — a policy shift from administrative fees to a tax for water resource usage, implemented in pilot areas since 2016. ↩
  12. Enabling government (有为政府) — a term in Chinese discourse indicating a government that actively and effectively performs its functions in the economy, in coordination with market forces. ↩