The Paris Agreement entered into force last Friday. And, earlier this year in April, China signed the significant legal document dealing with greenhouse gases emissions mitigation, adaptation and finance.

In September this year, China’s top legislature ratified the Paris Agreement on climate change. To fulfill its commitment to the Paris climate pact, China is committed to cut its carbon emissions per unit of GDP by 60 to 65 percent by 2030 from 2005 levels, increase non-fossil fuel sources in primary energy consumption to about 20 percent, peak its carbon emissions by 2030, and increase the forest stock volume by around 4.5 billion cubic meters on the 2005 level. These targets are reflected in China’s 13th Five-Year Plan, which is the current five-year plan.

The country will also launch its national carbon trading scheme in 2017. The scheme is on track and pilot programs have already traded 120 million carbon allowances, with the total volume of transactions amounting to about 472 million US dollars.

As for climate aid, China has helped establish a South-South cooperation climate and sustainability fund under a U.N. framework. The mechanism aims to promote trade and collaboration among developing countries, and reaches out to developed ones.