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Energy: China's wind turbine manufacturers to receive tax rebate

(Xinhua)
Updated: 2008-04-24 10:29

The Chinese government has begun refunding value-added tax (VAT) and import duties on core wind power turbine parts and materials in a move to promote the development of clean energy, the Ministry of Finance announced on Wednesday.

The rebate will be backdated to January 1, according to a statement posted on the ministry's website.

Meanwhile, the country is to cancel its tariff-free policy on imports of wind turbines with a capacity less than 2.5 megawatts.

The government has set a target for renewable energy to account for 10 percent of the country's energy consumption by 2010 and 15 percent by 2020.