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 their qualification approval for participating in carbon emission rights trading, with Shanxi Securities, Guoxin Securities, and Yingda Securities approved for this business license. 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 broaden 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 also announced that the CSRC approved its subsidiary Yingda Securities’ proprietary trading 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 legitimate trading venues. Subsequently, on March 6, Guohai Securities also announced that its proprietary business could participate in carbon emission rights trading on domestic legitimate trading venues.

With these seven securities firms entering the market simultaneously, a total of 25 securities firms have now been approved to participate in carbon emission rights trading, including the previously mentioned firms. The specific list includes: CITIC Securities, Guotai Huitian Securities, 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 involves acting as counterparties, providing bidirectional quotes for spot trading of domestic and foreign carbon emission rights varieties. In terms of actual business implementation, the 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 relevant carbon market qualifications, marking a significant milestone in the company’s green finance business, transitioning from qualification acquisition to market practice, achieving a “zero” breakthrough in business implementation.

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

The clustering of securities firms in layout of 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 comprehensive “top-level design - product standards - market access” framework. In February 2025, the CSRC issued the “Implementation Opinions on the Five Major Articles of Capital Market Financial Development,” clearly promoting the steady and orderly 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 implementing the national green development strategy and accelerating green finance business layout, marking a key qualification achievement in the company’s carbon finance innovation field. It further enriches the company’s business licenses and service tools, adding an important lever 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, fulfilling the mission of central enterprise securities firms.

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 leverage its professional research capabilities and comprehensive financial service system to support the healthy development of the carbon market and the economic shift toward green and low-carbon. 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