Reported 8 months ago
The Ministry of the Environment is aiming to complete the carbon pricing by the end of October 2024. According to assessments by the Ministry of Economic Affairs, the imposition of carbon fees is estimated to reduce the GDP by 0.16% to 0.8% and increase the Consumer Price Index by 0.06% to 0.3%. Industries like petrochemicals, cement, and steel may become 'fragile.' Without levying carbon fees on imported products, some industries might shift from profit to loss if charged 300 yuan, and if charged 500 yuan, more manufacturing industries will be designated as 'fragile.' The economic departments suggest that carbon fees should not surpass competitor countries' rates and be incrementally increased from low to high. They emphasize setting reasonable targets and discounted rates to ensure fairness and feasibility for industries.
Source: YAHOO