The millennial-scale response of shallow-water carbonate platforms to the climatic upheaval at the Permian–Triassic boundary (PTB) remains unclear. This study presents three carbonate platform sections across the Permian–Triassic (P–T) boundary in South China and the Lhasa terrane. A total of 14 types of carbonate microfacies were identified, which show that the Liangfengya and Taiping sections in South China were deposited in an inner ramp, and the Wenbudangsang section on the Lhasa terrane was deposited in an outer ramp. Bulk carbonate carbon isotope patterns through the sections are generally characterized by negative excursions (−2.2 to −3.5‰) during the PTB hyperthermal event. These excursions can be divided into four phases (NC1 to NC4), with NC1 before the negative carbon isotope excursion (NCIE) event, NC2 during the initiation phase of the NCIE, NC3 during the body of the NCIE, and the NC4 marking the recovery stage of the NCIE. The pattern of sedimentary changes in each section through the PTB hyperthermal event, and the relationship between these changes and the carbon isotope stages, was established. In the studied sections, the onset of the NCIEs (NC2 stage) preceded evidence for a carbonate production crisis, with the occurrence of anachronistic facies developed after this crisis but prior to the NC3 stage. In detail, our data show that the carbonate production crisis occurred 11 kyr after the onset of the NCIE, and 47 kyr before the first Permian–Triassic mass extinction (PTME), and that the carbonate production crisis may have been closely related to the environmental stresses associated with greenhouse gas emission from the Siberian Traps Large Igneous Province (STLIP).