China to Cut Water Power Funding Fees by One-Half to Lower Electricity Costs
Xia Ruirui
DATE: May 16 2019
/SOURCE: yicai
(Yicai Global) May 16 -- China will slash funding fees for major hydropower projects by one-half in order to reduce electricity costs, the National Development and Reform Commission said in a statement today.
China will also cut the rate of value-added tax for power grids to further lower prices, the macroeconomic planning agency added. The new measures will take effect on July 1.
