The impact of climate change is becoming increasingly urgent and severe. Meanwhile, global geopolitical situation remains tense, fueled by challenges such as economic downturn, energy crisis, debt crisis in developing countries, and intensifying competition among major powers. Against this backdrop, global climate governance faces multiple difficulties, and the leading channel for multilateral climate governance under the United Nations Framework Convention on Climate Change (UNFCCC) has seen setbacks. With carbon neutrality forming a broad political consensus around the world, different countries have launched a new round of competition and cooperation on green technology and industry, energy transformation and infrastructure construction in developing countries. Major country competition has shifted from competition on carbon emission space and development rights under the UNFCCC over the years to competition for climate-related rules, green standards, and the dominant position in the green industry chain. The scope of greenhouse gas emissions reduction has been further expanded to the international aviation and shipping industry, and nonstate actors are playing an increasingly important role in climate governance. In the future, China should continue to adhere to the multilateral process of global climate governance under the UNFCCC, actively participate in and lead the formulation of green rules, advocate the principle of “Common but Differentiated Responsibilities”, proactively assume international obligations commensurate with its national conditions, development stages, and capacities, and work with all parties to promote global climate governance in an effort to build a community with a shared future for mankind. [ABSTRACT FROM AUTHOR]