Carbon trading is a market mechanism and key instrument in the mitigation of climate change.This paper summarizes the transaction agencies,types,trading mode and the condition of global carbon trading markets, along with the sequestration projects underway in each continent.We also analyze the potential of grassland carbon sinks.Although there is no unified international carbon trading market,the major developed countries have their own emissions trading systems.The European Union scheme covers a large proportion of global carbon trading volume.Projects located in North America,South America,Asia,Africa and Oceania,maintain total carbon sequestration schemes to reduce CO_2emissions through reforestation,reducing deforestation,conserving biodiversity,improving energy efficiency and sustainable management.China is responsible for a large proportion of the world's registered and issued projects for the Clean Development Mechanism (CDM).These CDM projects are mainly distributed in the Sichuan,Yunan and Neimenggu provinces.The major type of emission reduction is the promotion of alternative and renewable energy.Chinese certified emission reduction (CCER)is up to 1028.98Mt CO_2e,ranking first in the world.In China,the carbon trading market of Hubei has the highest turnover in quota projects,while the Shanghai market has the highest volume.China has enormous potential to both lower emission reduction costs and increase the size of the CDM market.China also has abundant meadow resources.Although the grassland carbon sinks are not in the CDM project,they will play an important role in future trading markets.