The Paris Agreement established an institutional framework of the global response to climate change after 2020, which has greatly promoted the global cooperation in tackling climate change. Global climate governance has been more and more recognized by state and government. Chinese government has pledged to reach CO_2 emissions peak by 2030, and strives to reach the peak as soon as possible, and actively participates in the global climate governance. As the same time, the central and local governments have implemented air pollution control policies in order to solve the increasingly serious air pollution in China. Due to the homology of carbon dioxide emissions and air pollutants, for instance, fossil fuel combustion, the government can adopt collaborative governance policy to reduce carbon dioxide emissions and control air pollution simultaneously. Collaborative governance can avoid inconsistencies in policy making and improve the effectiveness of policy implementation. In the background of world economy integration, a country's climate governance policy will have an impact on the rest of the world economy, thereby affecting countries' investment for climate change mitigation, and ultimately affect the global cumulative welfare. In this paper, based on EMRICES model, we simulated the effects of carbon tax and sulfur tax of China on the world economy, and analyzed the change of carbon peak value after China's participation in global governance of climate. It was found that, under the baseline scenario, China's carbon emissions peak is 3695.30 Mt C, which will appear in 2033. Under China's carbon tax scenario, when other economies do not levy carbon tax, China's carbon emissions peak is 3480.30 Mt C, which will appear in 2032. Under China's sulfur tax scenario, when other economies do not levy sulfur tax, China's carbon emissions peak is 3307.90 Mt C, which will appear in 2031. When China levies tax carbon and sulfur tax simultaneously, and other economies do not levy tax, China's carbon emissions peak is 3125.10 Mt C, will appear in 2030, three years earlier than the baseline scenario, which reflects that China can complete the target of reaching carbon peak around 2030, but China may suffer from greater economic losses.