There　is　a　worldwide　consensus　that　excessive　anthropogenic　carbon　dioxide　emissions　will　lead　to　global　warming　and　other　environmental　problems.　Supports　from　regulations　and　policies　have　gradually　implemented　in　this　area.　As　one　of　the　most　discussed　policies,　the　carbon　emissions　trading　schemes　(CETS)　has　an　advantage　in　its　price-oriented　and　cost-saving　characteristics.　In　this　paper,　we　analyze　and　assess　the　CETS　effect　from　static　and　dynamic　perspectives　by　applying　provincial　panel　data　covering　a　period　ranging　from　2004　to　2017.　The　CETS　policy　has　a　significant　constraining　effect　on　both　carbon　emissions　and　primary　energy　consumption.　Compared　to　the　other　two　uncertainties,　namely　the　energy　price　uncertainty　and　the　technology　uncertainty,　the　carbon　permit　price　uncertainty　has　a　relatively　smooth　impact　on　the　economy,　which　is　being　pursued　consistently　by　the　policymakers.