China Mulls Tax Overhaul for Steel in Push to Meet Green Goals
- Tax changes are set to boost steel imports, reduce exports
- China has vowed to rein in output this year to lower emissions
Smoke and steam billows from a Chinese state owned steel plant
Photographer: Kevin Frayer/Getty Images
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China is considering a number of tax changes for its mammoth steel industry -- including lowering export rebates -- to bolster efforts to clean up one of the dirtiest industries in the world’s top carbon emitter.
Officials are considering changes that would encourage imports and reduce exports, according to two people familiar with the matter, who asked not to be identified because they’re not authorized to speak publicly. The measures highlight a focus on servicing the domestic market after the country pledged to cut steel production this year to curb the industry’s carbon emissions.