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<p>Carbon pricing is recognized as an effective tool of carbon reduction. Hence, China urgently needs to improve the carbon pricing system. This paper constructs a dynamic stochastic general equilibrium model with the inter-temporal accumulation of carbon emissions and a climate damage function to optimize the estimation of the carbon tax rate in China. It develops a four-sector dynamic general equilibrium model to investigate the effects of a carbon tax. We find that China’s optimal carbon tax rate is increasing with economic growth, and levying a carbon tax can achieve the double bonus of decreasing carbon emissions and expanding the economy. Moreover, the synergy of the carbon tax with related green policies, such as green finance, green industries’ competitive advantage, government environmental regulation, and green transformation goals, further amplifies the green effects of a carbon tax. Our conclusions provide a reference for implementing a carbon tax system when facing the pressure of carbon reduction, thus promoting global low-carbon development.</p>

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On optimal carbon tax in China: implications for net-zero emissions and development

  • 期刊论文

  • 发表日期：

    2025年6月20日

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  • Mondher Bellalah,
  • Pan Chen,
  • Detao Zhang,
  • Jingjing Zhang

摘要

Carbon pricing is recognized as an effective tool of carbon reduction. Hence, China urgently needs to improve the carbon pricing system. This paper constructs a dynamic stochastic general equilibrium model with the inter-temporal accumulation of carbon emissions and a climate damage function to optimize the estimation of the carbon tax rate in China. It develops a four-sector dynamic general equilibrium model to investigate the effects of a carbon tax. We find that China’s optimal carbon tax rate is increasing with economic growth, and levying a carbon tax can achieve the double bonus of decreasing carbon emissions and expanding the economy. Moreover, the synergy of the carbon tax with related green policies, such as green finance, green industries’ competitive advantage, government environmental regulation, and green transformation goals, further amplifies the green effects of a carbon tax. Our conclusions provide a reference for implementing a carbon tax system when facing the pressure of carbon reduction, thus promoting global low-carbon development.