Central Environmental Supervision Systemand Green M&A of Heavy Polluting Enterprises

Enterprisesmust accelerate their green transformation to support carbon peak and carbon neutrality goals.Efforts should be made to achieve sustainable environmental protection at the national strategic level, promote green and low-carbon development of the social economy, and emphasize the coordination and long-term nature of environmental development.To this end, the state has issued a series of environmental protection and economic restructuring policies.Environmental regulation is a critical tool for encouraging enterprises to adopt environmental protection measures [1].On July 1, 2015, the Central Leading Group for Comprehensively Deepening Reform deliberated and adopted the "Environmental