China's march toward a low-carbon economy will be fraught with challenges, yet, it presents more opportunities than risks, Xinhua News Agency reported Sunday, citing a report from HSBC.
The State Council, China's cabinet, released an integrated reform plan for promoting ecological progress on September 21.
"More taxes are on the horizon," said the HSBC report, predicting that an environmental resource tax, a groundwater resource tax and an environmental protection tax will be rolled out in the near future.
Chinese firms will take on more responsibility for their activities, and fines will be much more substantial, HSBC said.
