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China's carbon market is already the world's largest, and it's about to get far more complex. Leading market expert Jeff Huang has a front-row seat to what's coming: absolute emissions caps replacing the old intensity targets, carbon auctioning arriving in steel, cement and aluminium, and Hong Kong quietly positioning itself as the trading hub that connects all of it to global markets. If you're watching how carbon pricing shapes capital flows and CBAM compliance, this episode is worth your time.

Reference: AEX Holdings. Op-ed sample - Beyond critical mass (China Daily, 16 January 2026)

ABOUT JEFF: Jeff Huang is founder & CEO of AEX Markets based in Hong Kong. He is former Managing Director Greater China of the Intercontinental Exchange (ICE), VP Asia for Chicago Climate Exchange (CCX), and was appointed Chief Advisor for Chongqing Gas Exchange. He’s also founder of AsiaREC Limited, a non-profit carbon standard in Hong Kong. Jeff has more than 10 years of experience in cross-border M&A, Joint Ventures and futures markets in the United States, covering spaces including exchanges, futures companies, financial software infrastructure, etc. Prominent deals he has led include the creation of the Tianjin Climate Exchange (a joint venture between CCX and CNPC/PetroChina), forming a JV for futures brokerage between Citic and Calyon (SocGen) and a fintech acquisition for SunGard.

Recommendation: The Great Game by Peter Hopkirk: A gripping historical account of the 19th-century imperial rivalry between the British and Russian empires as they vied for supremacy in Central Asia.

HOST, PRODUCTION, ARTWORK: Joseph Jacobelli  |  MUSIC: Ep76 onward excerpts from Vivaldi’s La Follia, played by Luca Jacobelli.