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The report argues that China can achieve a deep carbon reduction by 2050 through sectoral transformations in electricity, industry, transport, and buildings, provided it receives international financial and technological support. It proposes a combination of domestic carbon taxes, a future cap-and-trade system, and a new 'Inter-country Joint Mitigation Plan' to facilitate technology transfer. The analysis emphasizes that a low-carbon transition is essential for China's modernization, offering opportunities to move up the value chain and improve energy security, though it will require active labour market policies to manage job losses in heavy industry.