China releases draft environment tax law

BEIJING -- The State Council, China's cabinet, on Tuesday released a draft law on environment tax for public opinion, which proposes levying tax on air- and water- borne pollutants, solid waste and noise.

The draft law was drawn up by the Finance Ministry, State Administration of Taxation and Ministry of Environmental Protection in a bid to promote an "energy saving, and environmentally friendly" industrial system, according to the Legislative Affairs Office of the State Council.

The draft law was submitted for review by the State Council last November and will be tabled at the top legislature should it be approved by the State Council.