China will launch resource tax reform plan in 2008

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China will launch a resource tax reform plan in 2008. On Saturday (March 15), the Shanghai Securities News quoted Wang Min, Vice Minister of the Ministry of land and resources, as saying that China will launch a resource tax reform plan in due time this year according to the actual situation of economic operation

According to the report, Wang Min said that after repeated discussions with the Ministry of Finance and other relevant departments, the Ministry of land and resources has already made a preliminary plan for the reform of resource tax

Wang Min said that the State Council is studying the feasibility of establishing a national reserve of mineral resources to avoid the ups and downs of economic machinery and electricity caused by problems in resource supply. He did not elaborate on this

the English newspaper chinadaily quoted Wang Min as saying that China's goal is to double its gross domestic product (GDP) by 2020. At that time, China will face a shortage of about 6 billion tons of oil, as well as 600million cubic meters of natural gas, 3.5 billion tons of steel, 50million tons of copper and 60million tons of 53 concrete block alumina

according to China, Wang Min said that China plans to decompose naturally in light and establish 12million tons of strategic oil reserves by 2010, equivalent to 30 days of oil imports

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