[Policy Update] The CPC Central Committee’s Recommendations for the 15th Five-Year Plan (2026–2030) Adopted

📰 News Highlight

Recently, the Fourth Plenary Session of the 20th Central Committee of the Communist Party of China (CPC) adopted the Recommendations for Formulating the 15th Five-Year Plan (2026-2030) for National Economic and Social Development. The document defines the Plan period as a critical stage for reinforcing the foundations and pushing ahead on all fronts toward basically achieving socialist modernization by 2035. The recommendations emphasize adherence to high-quality development, comprehensive reform, and the strategic goal of national rejuvenation.

💡 GSG Key Takeaways

⚡ Accelerated Green Transition: Green & low-carbon development is now a core mandate, driving major investment in clean tech and new productive forces.

♻️ Resource Efficiency & Climate Alignment: Stronger policies on industrial efficiency and carbon neutrality, especially across EVs & renewable supply chains.

📈 Green Growth as Demand Engine: Environmental goals are linked to boosting domestic consumption, creating vast markets for sustainable products & services.

[Market Update] BASF and Sinopec Achieve Mutual Recognition on Product Carbon Footprint Methodology

📰 News Highlight

Recently, BASF and China Petroleum & Chemical Corporation jointly announced a framework agreement for the mutual recognition of their respective Product Carbon Footprint (PCF) calculation methodologies. This historic agreement is the first of its kind between major Chinese and international enterprises, establishing a mechanism of mutual trust for PCF data.

💡 GSG Key Takeaways

1.    Setting the Standardization Benchmark: Significantly enhancing the transparency and comparability of carbon data for chemical products across international supply chains.

2.    Facilitating Global Green Trade: Creating crucial data trust between major international and Chinese chemical players, accelerating the trade of low-carbon chemical products.

3.    Integrating Chinese and International Standards: Aligning with both ISO 14067 and China's domestic standard GB/T 24067 demonstrating a practical pathway for the convergence of Chinese climate regulations with international measurement protocols.

[Carbon Market]

During October 25 – October 31, the total transaction volume of Carbon Emission Allowances (CEA) in Chinese National Carbon Market reached 20,905,400 tons, with a total transaction value of USD 139,450,614.1. The highest price was USD 7.75/ton, and the lowest price was USD 7.08/ton. For bulk agreement transactions, the volume was 16,419,918 tons, with a transaction value of USD 110,448,245.5.