Abstract: By the end of 2019,twenty-one emission trading systems(ETS)worldwide have been put into operation.They covered about 8%of global greenhouse gas emissions.The size of the global carbon market is expected to expand further in the future.China launched the national carbon market by the end of 2017.It covered the power generation industry first.The annual quota is expected to reach more than 3 billion tons of carbon dioxide after the formal operation.China's national carbon market will become the world's largest carbon market beyond the EU ETS.During 2018-2019,China's national carbon market mainly carried out fundamental construction.Seven pilots will continue to operate and gradually transfer into the national carbon market in the future.Seven pilots have accomplished 180 million tons online trading volume and 4.13 billion yuan of volume of business.Hubei carbon market had the highest volume of business and trading volume;while Beijing carbon market had the highest average transaction price.The carbon markets in Beijing,Shanghai,Hubei,Guangdong,and Shenzhen were more active;while those in Tianjin and Chongqing were relatively sluggish.The power generation industry of the national carbon market is excepted to make its first transaction after 2020.The national carbon market will gradually cover other energy-intensive industries during the "14th Five-Year" Plan period.At present,China has achieved the target of reducing carbon intensity by 40%~45% on the basis of 2005.The stable operation of the national carbon market in the future will play a positive role in achieving the goal of carbon peak by 2030 in China.