Li Jiachao: Strengthen cooperation with the Greater Bay Area carbon market, and test cross-border transaction settlement paths.

On September 17th, Hong Kong Chief Executive Carrie Lam delivered the 2025 Policy Address at the Legislative Council. Lam stated that the Hong Kong Exchanges and Clearing launched the international carbon trading platform Core Climate in 2022, which is the only trading platform in the world that settles voluntary carbon credits in Hong Kong dollars and RMB. In the future, Hong Kong will strengthen cooperation with the carbon market in the Greater Bay Area, experiment with cross-border trading settlement pathways, and jointly build an ecosystem for the carbon market in the region. Hong Kong will also work with relevant mainland regulatory authorities and institutions to study matters related to China's participation in the international carbon market, including the establishment of voluntary carbon credit standards and methods, as well as the registration, trading, and settlement of carbon emissions reduction.