BMI View: Tax breaks on gas imports will help reduce losses at China's state-run companies, which are ramping up imports to meet soaring demand, but more reforms are needed to make the sector more market-oriented. In an important step towards much-needed reform of China's gas sector, regulators announced on August 22 that the country will give tax rebates to state-run companies that import gas. The reforms are crucial to state-run companies that have seen losses mount as they have ramped up imports to meet soaring domestic demand, but have been unable to pass rising international prices onto consumers because of price controls.
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