China considering resources tax
China may be considering imposing a resources tax.
China is taking steps towards a resources tax as a means of conserving natural resources and slowing environmental destruction, according to analysts in China, Fairfax has reported.
Such a tax also would also help rebalance an economy that delivers bloated corporate profits at the expense of households, according to the report.
"We didn't have any taxes before. It was tiny, like 0.3 per cent on some resources, and now people are starting to think we should charge," professor of economics at the China Centre for Economic Research at Peking University Huang Yiping said.
"A resources tax will definitely be imposed in the next five years."
Fairfax also reported that the China Daily, the Communist Party's main English-language newspaper, has held up Australia as an example for China to follow.