April 3, 2018 / 2:43 AM / 4 months ago

China cuts resources tax on shale gas production

BEIJING, April 3 (Reuters) - China has cut resources tax on shale gas production by 30 percent from April 1, the Ministry of Finance said on Tuesday, as the world’s largest energy consumer aims to lift domestic gas supplies.

Resources tax on shale production was reduced to 4.2 percent from the previous 6 percent, according to the statement from the finance ministry. The new tax rate will be effective for three years, the ministry said.

Reporting by Meng Meng and Josephine Mason Editing by Shri Navaratnam

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