China cuts coal import tariffs in supply security push
China will cut import tariffs for all types of coal to zero next month, as the country prioritiseS energy security amid soaring global prices and supply disruption.
Levies for anthracite and coking coal, mainly used in steelmaking, will be cut to zero from the current three per cent, and rates for other kinds of coal will be down from three to six per cent.
The measures will be in place from 1 May 2022 to 31 March 2023, revealed the Chinese finance ministry.
The country is the world’s top climate polluter, and coal is the most environmentally damaging fossil fuel, emitting the most carbon dioxide when burned.
China commissioned 25.2 GW of coal power capacity last year, with the government committed coal despite climate pledges to bring the country’s carbon emissions to a peak by the end of the decade and reach net zero carbon emissions by 2060.
It has additionally imported 323.3m tonnes of coal in 2021, about eight per cent of its total coal consumption.