BEIJING -- China has established the world's largest carbon emissions trading market during the 14th Five-Year Plan period (2021-25), which is now operating stably, Minister of Ecology and Environment Huang Runqiu said on Friday.

Speaking at a press conference, Huang said that the country's carbon emissions trading market covers more than 60 percent of national carbon emissions.

In July 2021, China officially launched its national carbon emissions trading market. The platform has since evolved into the world's largest carbon market by the amount of greenhouse gas emissions traded.

Carbon emissions trading, which allows the buying and selling of permits to emit carbon dioxide or other greenhouse gases, is regarded as one of the critical tools to help reduce carbon footprints and meet emissions targets.