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China has achieved the largest tax cut so far through its value-added tax reform, with the total reduction rising by 60 percent in 2017 from a year earlier, according to data released by the State Administration of Taxation.
China has been offering financial incentives since 2010 to stimulate the popularity of new energy cars. Bloomberg reported that the subsidies had cost the Chinese government 59 billion yuan by 2015, and it may need to set aside 83 billion yuan more for 2016 and 2017.
China cannot eradicate coal-fired power from its energy mix overnight as natural gas supplies are difficult to access and renewable energy expansion takes time.
China currently has a surplus of the raw material with high holdings at ports amid slow seasonal steel demand, according to the China Iron and Steel Association in an analysis on its website.
China has made environmental protection and green manufacturing a top priority for development of the Yangtze River Economic Belt, a region encompassing 11 provinces and municipalities, including Hubei province, where Yichang is located, and considered to be a future growth engine for the country's economy.
来源：资阳报