The People's Republic of China (PRC) is taking concerted efforts and making large investments to peak out its carbon dioxide emissions around 2030. While current efforts are prioritizing accelerated energy efficiency and rapid expansion of renewables and nuclear in the energy mix, the fossil fuel related carbon dioxide emissions are still expected to rise even under a "new normal" growth strategies in the PRC. This brings in renewed emphasis on carbon capture and storage (CCS), which is currently the only near-commercial technologies to make deep cuts (up to 90%) in carbon dioxide emissions from fossil fuel related power plants and industries. This report draws on relevant technical assistance from Asian Development Bank (ADB), consultants' reports, and the work of ADB staff to assess the potential, the barriers and the challenges in demonstrating and deploying CCS in the PRC. It identifies unique low cost opportunities, recommends a gradual two phase approach to CCS deployment in the PRC and, provides complementary suite of policy actions to enable it.