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China to hike export tax on coke, coking coal: govt
Beijing (AFP) Aug 18, 2008 China will raise export taxes on coking coal and coke from Wednesday, the government said, in the latest attempt to address growing domestic energy shortages. Export taxes on coking coal will be doubled to 10 percent while taxes on coke will be raised to 40 percent from 25 percent, the finance ministry said in a statement. China will also levy a temporary 15 percent tax on aluminium alloy exports, it said. "Both coking coal and thermal coal are in short supply in China," said Wang Shuai, an analyst with the Orient Securities in Shanghai. "The situation (this year) has become the most severe in history." China relies on coal for about two-thirds of its overall energy demand, a proportion that has changed little over the past decade. Community Email This Article Comment On This Article Share This Article With Planet Earth
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