Abstract: With the continuous global focus on climate issues, the development of carbon financial market is also increasingly attracting the attention of all countries. Compared with the traditional finance, the core of carbon finance is extending around carbon emission right. Therefore, carbon finance, in its essence, is correlated with low-carbon economy. At present, the international carbon financial market has such characteristics as rapid increase of carbon trading volume, trading that is based on quota absolutely holding a leading place, wide range of market players, carbon financial products being diversified, EU holding the dominate place and Euro becoming the major currency of settlement, etc. At the same time, it has both the systematic and non-systematic risks. China should not only take an active part in the international carbon financial market, but also deal with the state strategic issues of climate changes from the global perspective, including strengthening the publicity, cultivating the intermediary institutions, expanding policy support, improving the capability of risk prevention, and so on.

Key words: low-carbon economy; carbon emission permit; carbon financial market; risks of carbon trading