1.NARI Group Corporation (State Grid Electric Power Research Institute), Nanjing 211106, China;2.Beijing Kedong Electric Power Control System Co., Ltd., Beijing 100089, China

The medium- and long-term electricity market in China has achieved good results after years of construction. But with the construction of new power systems, the overall market structure has changed, and medium- and long-term trading faces new challenges in achieving market connection and integration, supporting the entry into the market and consumption of renewable energy. This paper first outlines the key points for the construction of the medium- and long-term market at the current stage. Then, a review and commentary of the current medium- and long-term market trading mechanisms are conducted from four aspects: differences in trading rules, connection with the spot market, coordination between the two markets, and operation of the green electricity market. Finally, suggestions are proposed for the construction direction of the future medium- and long-term market from the perspective of market unity and green development.