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As one of the key industries of CO2 emissions, the electric power industry plays an important role in China's response to climate change. Recently, the electric power industry has achieved a certain amount of emission reductions through optimizing power structure and enhancing energy efficiency. However, the efforts to address climate change still lack of orderly management and supervision. In order to fulfill the goals of 'Notice of the 13th Five-Year Work Plan for Controlling GHG emissions' in China, that by the end of 2020 CO2 emissions per unit of GDP should decrease by 18% compared with that in 2015, there is an urgent need to establish and innovate regulatory mechanisms for Greenhouse gases (GHG) emissions in the electric power industry. This study discusses the status quo and existing problems of GHG emissions regulation of the electric power industry in China from the perspectives of regulatory agencies, measures and accounting methods. Then based on the regulatory experiences from developed countries and combined the real-life characteristics in China, a new GHG emissions regulatory index system and supervision scheme for the electric power industry is established. Finally, some recommendations are proposed for further regulatory mechanism innovation of the electric power industry in China.