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China halves its iron ore resource tax, but has almost no effect
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Report summary
On the 8th April 2015, China's State Council announced dual measures, one direct and one indirect, to support the domestic iron ore industry in light of the low price environment. The first direct measure was a 50% reduction in the tax burden for local miners, and the second indirect one was a country-wide RMB18/MWh reduction in electricity tariffs for all industrial users, effective 1st May 2015.
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