China to stop imposing import duties on copper, coal and aluminium

China to stop imposing import duties on copper, coal and aluminium
Dec 28, 2007 02:55
KEVIN0518 Points: Join Date: Mar 13, 2007 Status: offline	China made an announcemen recently that it will stop imposing import duties on copper, coal and aluminium and halve import tax on oil products (diesel and gasoline) from January 1st. Last Wednesday, the Ministry of Finance also declared that export taxes on some steel products, coking coal and coke would be raised to curb the profits on those polluting exports. To cool down the steel industry, the export duties on semi-finished steel products will also be raised by 25%. What can you infer from the above report? China is thirsty and it needs more energy. That is why it stop imposing import duties. On the other hand, environment protection has been attached much more importance. Do you agree?

Dec 28, 2007 02:55

KEVIN0518
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Join Date: Mar 13, 2007
Status: offline

China made an announcemen recently that it will stop imposing import duties on copper, coal and aluminium and halve import tax on oil products (diesel and gasoline) from January 1st. Last Wednesday, the Ministry of Finance also declared that export taxes on some steel products, coking coal and coke would be raised to curb the profits on those polluting exports. To cool down the steel industry, the export duties on semi-finished steel products will also be raised by 25%.

What can you infer from the above report? China is thirsty and it needs more energy. That is why it stop imposing import duties. On the other hand, environment protection has been attached much more importance. Do you agree?

Jan 9, 2008 02:51

DREAMLIFE
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Join Date: Sep 5, 2007
Status: Offline

What can you infer from the above report? China is thirsty and it needs more energy. That is why it stop imposing import duties.

Kevin, you answered your question. China needs more energy to keep rolling on its economic development and its domestic energy production might not meet its requirements. Thus, it needs import oil products,copper, coal and aluminium abroad. That is why it stops imposing or halving taxes on those products.

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