Enacted in 2021, China’s National Carbon Market based on tradable performance standard, was promoted as a new effort to engage with international climate policy. It’s too early to assess the emissions reduction impact of the so-called biggest carbon market in the world. Despite of the essential differences of market design, contextual institutions and the mild effects of the California’s system in delivering carbon emissions reduction and environmental justice, Professor Alex Wang of UCLA School of Law explains why China may still learn from California’s Greenhouse Gas Cap-and-Trade Program. In this episode, the discussion also touches the new direction of climate policy in the context of EU Green Deal and U.S. Inflation Reduction Act. Professor Wang shares his opinion on the academic exchange challenges facing scholars from both U.S. and China.