Subscribe free to our newsletters via your
. Military Space News .




TRADE WARS
China considers resource tax to include coal
by Staff Writers
Beijing (UPI) May 9, 2013


disclaimer: image is for illustration purposes only

A Chinese government official has signaled that tougher taxes on the use of resources and on emissions would be imposed so the country can achieve greener industrial development.

Writing in China's Qiushi magazine, Vice Premier Ma Kai called for an increase in funds needed to tackle pollution "via taxation measures."

"We will continue to push forward a pricing mechanism by soliciting opinions from multiple parties, including government, enterprises and consumers," he said.

Ma also called for more use of renewable energy such as hydro and nuclear power and suggested an escalating scale for electricity charges, with higher charges imposed for excessive users.

China introduced a round of reforms in November in which the resources tax for oil and gas moved from volume-based to a value-based tax, set at 5 percent of the value of the oil and gas produced. China National Offshore Oil Corp. in its 2012 annual report said the revised tax policy increased oil production costs by nearly 17 percent per barrel.

But those reforms didn't include coal, which is still taxed by volume and accounts for about 70 percent of the country's energy generation. In March the government set a target to cap coal consumption to 4 billion tons by 2015.

Jia Kang, director of the Research Institute of Fiscal Science at the Ministry of Finance, told China Daily the introduction of an all-encompassing resource tax that includes coal would be a "tough fight," although it would force factories to restrict excessive production and adopt more energy-saving technologies.

While there are no exact details about a possible coal tax, analysts say the government likely would follow the oil and gas model and introduce a value-based tax of about 5 percent on coking and thermal coal.

"Implementing a value-based resources tax on coal would have a huge impact on coal and energy prices, so it's a question of whether the economy can withstand that change," Yang Zongxing, an analyst with Donghai securities in Shanghai, was quoted as saying by the Financial Times.

As for emissions, regional pilot emissions trading schemes will soon begin in five cities, including Beijing, Shanghai and Shenzhen and in the provinces of Guangdong and Hubei. Together, the areas cover a population of more than 250 million people.

Shenzhen is scheduled to be the first to begin, on June 17. Shanghai has also said it will launch in June, although no date has been set.

The world's largest emitter of carbon dioxide, China has pledged a 17 percent cut in its emissions per unit of economic output by 2015, compared with 2010 levels.

.


Related Links
Global Trade News






Comment on this article via your Facebook, Yahoo, AOL, Hotmail login.

Share this article via these popular social media networks
del.icio.usdel.icio.us DiggDigg RedditReddit GoogleGoogle








TRADE WARS
Peru copper plans moving again despite protests
Lima (UPI) May 9, 2013
Peru government plans to join the global copper producers club in a big way are moving ahead despite a spate of environmental protests over months that caused work stoppages and frightened away investors. Pro-mining interests active in Peru and abroad say the environmental campaigns have set back investment prospects not only in Peru but also in Chile and other neighboring states with d ... read more


TRADE WARS
U.S. seeks $220 million for Israel missile defense

Pentagon requests more funding for Israel's 'Iron Dome'

Lockheed Martin PAC-3 Missile Intercepts and Destroys Tactical Ballistic Missile in New Test

Japan's missile defence plan: some facts

TRADE WARS
Taiwan renews call on China to remove missiles

Syria: Israel blasts Hezbollah's missile chain

Lockheed Martin's Nemesis Missile Scores 3-For-3 in Flight Tests

Guam heightens alert level after N. Korea threats

TRADE WARS
Iran unveils new attack drone

Northrop Grumman, U.S. Navy Conduct First Arrested Landing of X-47B Unmanned Demonstrator

Outside View: Drones: Say it with figures

ESA-EDA Flight Demonstration On Remotely Piloted Aircraft Systems Insertion Into Civil Airspace

TRADE WARS
Department of Defense looking to allow Apple, Samsung devices

DARPA Seeks Clean-Slate Ideas For Mobile Ad Hoc Networks

Astrium's secure milsatcoms now cover the world

Gilat to Equip IDF with SatTrooper-1000 Military Manpack

TRADE WARS
Germany says will sell 164 tanks to Indonesia

Files posted online to 'print' working handgun

Northrop Grumman Selected to Complete JCREW I1B1 Development

DARPA Announces Winner of the First FANG Challenge

TRADE WARS
AgustaWestland remains a bidder for Indian deal

Australia holds the line on defense budget

France told to cut back on military pomp and ceremony

Pentagon plans to cut civilian workforce

TRADE WARS
India FM seeks to build China ties after border row

China should 'reconsider' who owns Okinawa: academics

India FM in China visit after border row

Beijing says US defence report hypes China threat

TRADE WARS
Going negative pays for nanotubes

Researchers develop unique method for creating uniform nanoparticles

Dark field imaging of rattle-type silica nanorattles coated gold nanoparticles in vitro and in vivo

'Super-resolution' microscope possible for nanostructures




The content herein, unless otherwise known to be public domain, are Copyright 1995-2014 - Space Media Network. AFP, UPI and IANS news wire stories are copyright Agence France-Presse, United Press International and Indo-Asia News Service. ESA Portal Reports are copyright European Space Agency. All NASA sourced material is public domain. Additional copyrights may apply in whole or part to other bona fide parties. Advertising does not imply endorsement,agreement or approval of any opinions, statements or information provided by Space Media Network on any Web page published or hosted by Space Media Network. Privacy Statement