China Waits for Right Time for Fuel Tax Launch

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Last updated at: (Beijing Time) Tuesday, January 14, 2003

China Waits for Right Time for Fuel Tax Launch

China is ready to launch a vehicle fuel tax but a specific time has not yet been set, Jin Renqing, director of the State Administration of Taxation, said Tuesday.

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China is ready to launch a vehicle fuel tax but a specific time has not yet been set, Jin Renqing, director of the State Administration of Taxation, said Tuesday.

China's taxation departments had made sound preparations for the debut of the fuel tax, and were only waiting for the appropriate time, Jin said at a press conference hosted by the State Council Information Office.

The current problem was the international oil price, Jin added.

He said the global price for oil was fluctuating widely and kept rising at present. Under such circumstances, the fuel tax reform would influence the whole of society, though it would not increase the burden on consumers.

China would keep an eye on the changes in global oil prices and choose the best time for the reform, said Jin.

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