Fueling Reform in China
Article from: OGEL 4 (2009), in China Energy Law and Policy
The Fuel reform of China on 1 January 2009 consists of two aspects: the introduction of a fuel tax and the fuel prices mechanism reform. The two reforms affect and influence each other. The fuel tax reform was launched in the contest of the record low world oil prices, which offered a rare opportunity for China to push ahead with its fuel tax taxation reform. At the same time, the fuel tax reform will also help set up a resource pricing mechanism. The reform has set the tone for the country's refined oil market: future adjustment of the market will be led by taxation levies ...