China Exploring Possibilty of Hiking Taxes on Natural Resources

On Monday, a plan to raise taxes on natural resources in China has been submitted to the State Council, according to the Shanghai Securities News. "The scope for levying a natural resources tax will be expanded from including petroleum and natural gas to also including other resource products such as coal. The tax will be levied in accordance with the value of the resources, rather than based on the quantity," Guo Xiaolin, deputy head of the general office at the SAT said on Saturday. Read more here.