At a recent high-level forum on "Safety Development," Li Yizhong, head of the State Administration of Work Safety, emphasized that China is intensifying efforts to reform its mineral resource taxation system. The goal is to incorporate factors such as resource reserves, recovery rates, and environmental impact into tax calculations, aiming to improve resource efficiency and promote sustainable development.
Li Yizhong pointed out that many countries around the world have implemented higher resource taxes for non-renewable materials, with tax rates tied to recoverable reserves, market value, and extraction risks. This approach raises the entry barriers for the mining sector, ensuring more responsible and controlled resource exploitation. In contrast, China's current mineral tax rate is relatively low, which not only harms national interests but also leads to unregulated mining, excessive waste, and safety hazards.
The government is now closely monitoring reforms in mineral taxation, viewing it as a long-term strategy to ensure that resources are used on a paid basis, linked to both reserves and recovery rates. This move is seen as essential for promoting a more sustainable and efficient mining industry.
In addition, China is exploring the establishment of a coal sustainability fund system. A portion of coal production costs will be allocated to cover environmental restoration, mine reclamation, and transition funds. These funds will be managed by the government to address issues that individual companies may struggle with. At the same time, enterprises will be required to use these funds for their own environmental and safety needs.
This approach ensures that the cost of coal includes resource extraction, safety measures, environmental protection, and production conversion. By making these costs more transparent and realistic, the policy aims to reduce profits from small-scale coal mines and encourage a more balanced and responsible industry structure.
It has been reported that the State Council recently approved a pilot program in Shanxi Province to implement coal industry sustainability reforms. The initiative aims to gather practical experience and gradually expand successful strategies nationwide.
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