China resumes coal import tax

Beijing: China is going to resume coal import tariffs from 15 October in a bid to save the domestic coal industry.

The Finance Ministry will impose a levy of between 3% and 6% on coal imports, something that has been suspended for the past seven years.

The real loser with this news is likely to be Australia. Indonesia, the second-biggest shipper of the fuel to China, will be exempt from the tariffs since a free trade agreement between China and the Association of Southeast Asian Nations (ASEAN) means Beijing has promised the signatory nations zero import tariffs for some resources.

Last year, China imported 327m tons coal, up 27% year-on-year. [10/10/14]

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