China unveiled its carbon peaking plan, highlighting six significant tasks and setting targets for seven key sectors, including steel, building materials, petrochemicals, nonferrous metals, consumer goods, equipment manufacturing and electronics. On August 1, 2022, China’s Ministry of Industry and Information Technology (MIIT), National Development and Reform Commission (NDRC), and Ministry of Ecology and Environment (MEE) jointly released the Carbon Peaking Action Plan for Industrial Sectors, in an effort to shift towards green and low-carbon industry and achieve carbon peaking by 2030. Six Major Tasks 1. Industrial Restructuring It is proposed to readjust the structuring of nonferrous metals, petrochemicals and steel sectors and form industry clustering with low-carbon sectors. The projects with high energy consumption and emissions are expected to be put under tight control. Industries such as steel, cement, flat glass and electrolytic aluminum will implement supply-side structural reform and eliminate excess capacity by means of marketization and legalization. 2. Energy Conservation To further optimize the energy structure, the authorities will…