Introduction  Carbon emissions trading is becoming a market mechanism or policy tool around the world to promote greenhouse gas emission reduction effectively. Focused on carbon peak and neutrality goals, it is of great significance to carry out timely analysis and research on carbon emissions trading markets (carbon markets) to promote the healthy and orderly development of China's carbon markets.

  Method  On the basis of an introduction of the development of the relatively mature carbon markets in the European Union and the United States of America, the construction experience of seven domestic pilot carbon trading markets in China are summarized briefly and the operation of the national carbon market in the first performance period was also analyzed.

  Result  Some shortcomings in China's carbon markets are pointed out, mainly including incomplete institutional system construction, relatively single industry coverage and trading structure, imperfect allowance allocation and weak multi-market linkage effect, etc.

  Conclusion  On the premise of the basic condition of China's economic and social development, it is suggested that a series of work centered on top-level design, trading market scheme, regulation and control mechanism, and international cooperation, etc. should be carried out in the future.