China will bring at least one of chemicals, petrochemicals, civil aviation or paper manufacturing into mandatory emissions trading system (ETS) compliance by end-2027.

The climate response five-year plan's 17% emissions-intensity target by 2030 explicitly requires widening the ETS beyond its current power-steel-cement-aluminium base, and a parallel 2025 State Council directive already set 2027 as the deadline for covering "all major industrial emitters".