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CHINA> National
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China may kick in fuel tax, oil pricing reforms in Jan
(Xinhua)
Updated: 2008-12-04 19:34 BEIJING -- China's long-awaited fuel tax reform may start as early as January, along with the country's government-controlled oil pricing reforms, a senior official said Thursday. "I personally think January 1 is a good time to introduce the fuel tax," Zhang Xiaoqiang, vice minister of the National Development and Reform Commission (NDRC), said during participating in the fifth China-US Strategic Economic Dialogue (SED) held in Beijing. The country's moves to put a fuel tax in place came as the world crude prices had plunged almost 70 percent from the peak price of US$147 in mid-July. Analysts have argued that said the on-going oil price drop presented a good opportunity for China to resume its fuel tax reform. Zhang said the Chinese government had reiterated its stance to launch a deepened reform on the country's resources, including energy, in the principle of reflecting "scarcity of resources, market supply and demand and environmental costs". "Prices of domestic oil products still present a big gap in respect to this principle," he said, "so the government has decided to speed up the reforms." |
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