Abstract: By the end of 2021, the global emission trading systems (ETS) had covered about 16% of global greenhouse gas emissions. After the COP 26, the basic institutional framework of the global carbon market has initially formed. On July 16, 2021, China’s national carbon market officially launched online trading and the power generation industry is the first industry to be included. By the end of December 31, 2021, China’s national carbon market has accomplished a total of 179 million tons in trading volume and 7.684 billion yuan in turnover. And carbon allowance price is basically stable but the trading activity approaching the performance period is rapidly rising. Affected by the COVID-19 epidemic, the pilot carbon markets in 2020 were less active but the carbon allowance prices were generally stable. In 2021, the trading volume and price of the pilot carbon markets generally increased. But the differences between different pilot martets are still large. Among them, Beijing pilot market has the highest carbon price, and Guangdong pilot market has the largest transaction volume and the most active market. The national carbon market is expected to cover the construction and steel industries and introduce institutional investors after 2022. In the future the national carbon market will gradually reduce the total amount of carbon quotas, increase the types of trading products, complete the full coverage of eight key energy-consuming industries, coordinate with other emission reduction measures, and explore the path of internationalization, in order to promote the realization of carbon peaking and carbon neutrality goals.