CHINA
The Chinese government's programme to achieve a "visible improvement" in the country's air quality within a span of 18 months, may be fulfilled four months earlier than expected. This is because the suppliers of ultra-low sulphur diesel, which is being imported for the implementation of this programme, have revised their schedules and China may have its supply of a new, cleaner diesel in August.
A resolution to impose an initial concessionary duty of us $1.11 per litre on the cleaner fuel starting July 7 has been mooted by the Chinese government, said deputy secretary for environment and food, Thomas Chow Tat-ming. This is 89 cents less than the duty imposed on regular motor diesel. An announcement to this effect will be made on June 30, 2000 if the Legco subcommittee passes the resolution on June 26, 2000.
Chow said the duty on cleaner fuel would be increased to us $2 per litre on January 1, 2001 and to us $2.89 per litre on January 1, 2002. However, officials would continue to review it. "If ultra-low sulphur diesel can be supplied from within Asia, the import cost will be lower and we will adjust the duty to keep the tax concession of 89 cents a litre. Our purpose is to give concessions in the long run," he said. If the price of the cleaner diesel increased, more concessions would be given. Cost will not be the only factor and stability of supply would also be considered while setting the duty.
Democrat Sin Chung-kai, chairman of a Legco subcommittee studying the resolution said the duty should not increase after 18 months in order to keep the policy of tax concessions.
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