As the world's largest carbon emitter, China is determined to speed up measures to upgrade the quality of refined oil products, will increase by 68 billion yuan investment to improve the quality of refined oil products, promote governance and enterprise technology upgrading air pollution, increase efforts to control haze.
China's State Council on Tuesday (April 28) announced that Premier Li Keqiang today chaired a State Council executive meeting, decided to accelerate and refined oil quality upgrade measures to promote air pollution control and technological upgrading of enterprises, the national supplier of five standard car gasoline and diesel oil The time from the original January 2018, advanced to January 2017. From January 2016 five suppliers of standard gasoline and diesel vehicles area, from the original Beijing, Tianjin, major cities in the region Yangtze River Delta, Pearl River Delta to expand to 11 provinces and cities throughout the eastern part of the whole territory. Respectively from July 2017 and January 2018, a comprehensive supplier in the country four or five national standard regular diesel. To accomplish these tasks, refining companies will increase investment in technical improvements of about 68 billion yuan ($ 11 billion).
China has been trying to control pollution, which is China's rapid economic growth over the past 30 years, a byproduct of air and water pollution has caused public discontent. Chinese President Xi Jinping at the two sessions in March said it would strike punish environmental offenders.
China Petrochemical in 2013 said it would invest 30 billion yuan each year to improve the oil quality. While China Petroleum plans to invest 15 billion yuan.
State Department announcement also said that domestic consumers demand large part of foreign consumer goods, carried out before the end of June this year to reduce import tariffs on trial, and gradually expand the scope of tariff reduction commodities; port of entry will be set up and restore Galleria, reasonable expansion of duty-free varieties increase the amount of a certain number of tax-free shopping, the convenience of consumers to buy foreign products in the territory. The Government will combine the tax reform, improve the clothing, cosmetics and other consumer packaged goods consumption tax policy, urban and adjust the tax base, tax rate and links.
State Council meeting also decided that from May 1, 2015, the rare earths, tungsten, molybdenum resource tax amount levied by the change from ad valorem, and in accordance with the principle of no increase in the corporate tax rate be reasonably determined. Meanwhile, to further clean up and standardize the charges, the rare earth mineral resources compensation rates, tungsten, molybdenum is reduced to zero, stop expropriation price adjustment fund, ban related charges fund local governments below the provincial irregularities established. Establishment of Mineral Resource equity fund system.
