Fiscal & Taxation Policies for Resource Consumers to Be Adjusted

The Chinese government plans to make more adjustments to fiscal and taxation policies on resource products to bring the full burden of social costs to bear on the producers of energy-consuming and high pollution products, a high ranking official revealed at a national financial summit on July 24.

Financial Minister Jin Renqing spoke out about the government's efforts in the second half of 2007 to meet its energy-saving and emission reduction goals. Accordingly, the Ministry of Finance (MOF) will once again streamline its fiscal and taxation policies on the resource-consuming industry. Furthermore, MOF will roll out a battery of fiscal and taxation measures to encourage energy-saving and environmental protection, he added.
For more details, please read the full story in Chinese. (http://www.cnstock.com/jryw/2007-07/25/content_2361082.htm)