Draft of environmental protection tax is reported to State Department

7 Nov 2014 – During the 11th meeting of the 12th Conference of the Standing Committee of the National People’s Congress, the draft of environmental protection tax was reported to the State Congress. An expert involved in discussion revealed that the tax would work as a replacement of pollution fee, and no extra financial burden would be laid on companies.

Also, the possibility of carbon tax is still remote. Emission reduction policy is still controversial globally. Some of the developed countries still take no measures on carbon tax.  The concern is that if China implements carbon tax first, the expense will undermine companies’ competitive power on global market.