China Carbon Market Monthly Snapshot – April 2026

A concise review of trading activity in China's carbon markets for the month, presented by Climate Bridge.

1. Carbon Emission Allowance (CEA) Market

Monthly Activity & Trend: Trading activity rebounded strongly in April, with both volume and turnover surging compared to March and approaching the 10-million-tonne level seen in January. The total monthly volume reached 9.01 million tonnes, generating a turnover of RMB 671.90 million. Compared to March 2026, this represents a 63.76% increase in volume and a 56.77% increase in turnover.

Price Performance: The daily average price ranged between a high of RMB 81.00/tonne and a low of RMB 68.56/tonne. The market closed the month at RMB 78.42/tonne, marking a 1.41% decrease from March closing average price of RMB 79.54/tonne.

Trading Breakdown:

● Listed Agreements: 2.18 million tonnes (RMB 170.08 million).

● Bulk Agreement: 6.83 million tonnes (RMB 501.83 million).

● One-way Bidding: No transactions.

2. China Certified Emission Reduction (CCER) Market

Monthly Activity & Trend: CCER trading cooled in April following the strong rebound in March, with a volume of 0.61 million tonnes in April (Turnover: RMB 51.57 million). Compared to March 2026, this is a 19.73% decrease in volume and a 22.07% decrease in turnover.

Price Performance: CCER prices remained relatively stable. The daily average price floor edged down slightly to RMB 80.27/tonne, while the daily high moderated to RMB 95.00/tonne. The month-end average price settled at RMB 84.23/tonne, representing a 0.44% decrease from the previous month-end average price of RMB 84.60/tonne.

3. Regional Pilot Carbon Markets

Collective Performance: Combined listed agreements trading of emission allowances across China's eight pilot markets totalled 0.29 million tonnes in April (Turnover: RMB 15.63 million). This reflects an 54.40% decrease in volume and a 49.79% decrease in value compared to March 2026.

Data compiled by Climate Bridge based on publicly available information. Data source: Shanghai Environment and Energy Exchange, China Beijing Green Exchange, Tianjin Climate Exchange, Guangzhou Emissions Exchange, Shenzhen Green Exchange, Hubei Carbon Emission Exchange, Chongqing Emission Exchange, Fujian Haixia Resources and Environment Exchange.

Interested in deeper insights?

To discuss China's carbon market trends and uncover potential opportunities, feel free to reach out to us at: solution@climatebridge.com

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