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Strategies & Market Trends : Greater China Stocks

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From: Julius Wong	10/11/2011 7:40:32 AM
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China to Extend Tax on Oil, Gas Resources Nationwide to Reduce Consumption By Bloomberg News - Oct 11, 2011 China will extend a value-based tax on sales of oil and natural gas nationwide starting next month to help save energy in the world’s fastest-growing major economy and boost local government revenues to develop inland provinces. The oil and gas tax, ranging from 5 to 10 percent of sales, will be levied on both domestic producers and joint ventures with overseas companies, the Ministry of Finance said in a statement today. China will impose a value-based tax on other commodities when the time is right, it said. bloomberg.com

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