China to raise resource tax on coal miners to 3 pct from 1 pct

China will raise the resource tax on coal mining companies to 3 pct from 1 pct, the China Business News reported.

Sun Youhai, director of the legislative department of the Chinese parliament's Environment and Resource Commission, was quoted as saying the proposed tax change has been submitted to the cabinet for review.

Until now the coal tax has been based on production volume but in future it is expected to be based on price per ton.

The paper said taxes on other resources would be raised to similar levels.

China consumed about 2.39 bln tons of coal last year, accounting for 69.4 pct of all energy consumption, it said.