The cumulative trading volume in Shenzhen’s carbon market has reached 63.84 million tons so far, with a turnover of 1.444 billion yuan (US$226 million yuan), according to an official with the Shenzhen Municipal Development and Reform Commission.

Guo Ziping, the commission’s director, disclosed the figures to Shenzhen Economic Daily in a recent interview. According to Guo, Shenzhen’s carbon trading market ranks first in the nation in terms of market liquidity.

Guo said that Shenzhen will try its best to create conditions to shift from “control of energy consumption and energy intensity” to “control of total carbon emissions and carbon intensity.”

According to statistics, Shenzhen’s energy consumption intensity and carbon emission intensity are at the lowest levels in China, accounting for only one-third and one-fifth of the national averages, respectively.

The city’s installed clean energy power generation capacity accounts for nearly 80 percent of the total installed power generation capacity. Shenzhen leads the nation in terms of the number of new-energy vehicles (NEVs) and green buildings, with more than 500,000 NEVs and more than 140 million square meters of green buildings.

Shenzhen also boasts the lowest PM2.5 particle concentration level in subprovincial-level cities and above.

In addition, Shenzhen has taken the lead in making its buses and traditional taxis all electrified. The city’s household garbage recycling rate reached 41 percent, and the daily waste incineration capacity reached 18,000 tons, said the Daily.

In 2020, the added value of Shenzhen’s green low-carbon industry amounted to 122.7 billion yuan.

Shenzhen adheres to the market-oriented means to promote low-carbon development and takes the lead in launching a pilot carbon trading market in the country. Currently, the city has 685 carbon emission control enterprises and institutions, covering 31 industries such as manufacturing, water affairs, public transport and port.