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Energy-hungry China, the world's fastest-growing vehicle market, is considering slapping new taxes on large automobiles, linking tax levels with exhaust emissions.
The official China Daily said the government was mulling a proposal from the cabinet's development and research center, which could push taxes to 15-20 percent for autos with a three-liter or larger engine capacity.
"The government will levy no tax if consumers buy lower-level or zero emission vehicles," the paper quoted center representative Feng Fei as saying.
"Those who buy cars with higher emission will be taxed more heavily," he said, adding that the aim was to encourage people to buy vehicles that use less gas and pollute less.
Current vehicle taxes range from three to eight percent.
The center predicted that cars in China would in five years' time consume about 43 percent of the country's projected total oil demand, and that the figure would climb to 57 percent by 2020.
"In the future urban pollution will mainly be generated by automobiles, unless we are able to effectively control exhaust emissions," Feng said.
Originally posted by slank
I love watching China, it is so fernetic it is hypnotic just to watch.
They are running as fast as they can just to keep up.
I wish the US would get off the sidelines [its backside] and join the race.