Carbon trading license expansion accelerates, 7 brokerages received "entry permits" since March

Everyday Economic Reporter | Chen Chen
Everyday Economic Editor | Peng Shuiping

On March 9, securities firms received another significant development in the approval process for participating in carbon emission rights trading, with Shanxi Securities, Guoxin Securities, and Yingda Securities approved for this business qualification. This latest update marks that, within just a few days since March, seven securities firms have entered the market intensively. Previously approved firms include Guohai Securities, Guojin Securities, Changjiang Securities, and Zhongtai Securities. As of now, the number of securities firms authorized to participate in carbon emission rights trading has expanded to 25.

Guoxin Securities stated that this approval is an important breakthrough in the company’s implementation of the national green development strategy and in accelerating its green finance business layout. Meanwhile, Guohai Securities also mentioned that obtaining the qualification for carbon emission rights trading helps securities firms expand their proprietary investment channels and enrich financial service tools and products. Additionally, it was learned that on February 11, 2026, Guoyuan Securities successfully completed its first carbon quota repurchase business since obtaining relevant carbon market business qualifications.

Seven securities firms approved to participate in carbon emission rights trading in March

On March 9, Shanxi Securities and Guoxin Securities announced that the China Securities Regulatory Commission (CSRC) approved their proprietary trading businesses to participate in carbon emission rights trading on domestic legitimate trading venues. On the same day, Yingda Securities, a subsidiary of State Grid Yingda, also announced that the CSRC approved its proprietary business to participate in carbon emission rights trading on domestic legitimate trading venues.

Prior to this, several institutions had been approved in the days before. On March 5, Zhongtai Securities, Changjiang Securities, and Guojin Securities announced that the CSRC approved their proprietary trading businesses to participate in carbon emission rights trading on domestic venues. Following that, on March 6, Guohai Securities also announced that its proprietary business could participate in carbon emission rights trading on domestic venues.

With these seven securities firms entering the market simultaneously, a review shows that, including the aforementioned firms, the number of securities firms approved to participate in carbon emission rights trading has reached 25. The specific list includes: CITIC Securities, Guotai Huitian, China International Capital Corporation (CICC), Huatai Securities, Shenwan Hongyuan Securities, Orient Securities, CITIC Construction Investment, Huabao Securities, Guoyuan Securities, Caida Securities, China Merchants Securities, Guoxin Securities, Industrial Securities, GF Securities, Great Wall Securities, Southwest Securities, Founder Securities, Galaxy Securities.

For securities firms, carbon emission rights trading refers to acting as counterparties, providing bidirectional quotes for spot trading of domestic and foreign carbon emission rights varieties in the market. In terms of actual business implementation, the previously approved firms have already taken substantial steps. In December 2024, Guoyuan Securities announced its approval to participate in carbon emission rights trading. After preparations, on February 11, 2026, Guoyuan Securities successfully completed its first carbon quota repurchase business since obtaining the relevant qualifications, marking a significant leap from qualification acquisition to market practice, achieving a “zero breakthrough” in business implementation.

Adding an Important Tool for Low-Carbon Transformation of the Real Economy

The clustering of securities firms in carbon emission rights trading is not only about expanding business but also aligns with national policy directions. Carbon emission rights trading is an important policy tool that uses market mechanisms to control and reduce greenhouse gas emissions such as carbon dioxide, supporting peak carbon and carbon neutrality goals. In recent years, China’s carbon finance policy system has formed a full-chain framework of “top-level design - product standards - market access.” In February 2025, the CSRC issued the “Implementation Opinions on the Five Major Articles of Capital Market Financial Development,” clearly promoting the steady development of the carbon futures market and the research and listing of carbon emission rights futures, supporting qualified financial institutions to participate in carbon emission rights trading under lawful, compliant, and risk-controlled conditions, providing guidance for securities firms’ participation in carbon finance.

Under the favorable policy environment, approved securities firms have also expressed strategic significance for developing this business. Guoxin Securities stated that this approval is an important breakthrough in the company’s implementation of the national green development strategy and in accelerating its green finance business layout. It signifies that the company has obtained key qualifications in carbon finance innovation, further enriching its business licenses and service tools, adding an important tool for serving the low-carbon transformation of the real economy, and laying a solid foundation for better serving state-owned enterprises and central enterprises’ green and low-carbon development.

Guohai Securities also emphasized the positive role of this business for the company’s development. It stated that obtaining the qualification for carbon emission rights trading helps expand proprietary investment channels, enrich financial service tools and products, and actively leverage its professional research capabilities and comprehensive financial service system to support the healthy development of the carbon market and the green and low-carbon upgrade of the economy. Guohai Securities will continue to practice the “dual carbon” strategy and ESG value investment philosophy, serve the real economy, and diligently promote green finance initiatives.

(Edited by: Wen Jing)

Keywords:
Carbon Trading