China to close biodiesel import loophole to stop tax-free gasoil imports

In China, the government is preparing to close a loophole in its tax exempt policy on biodiesel by adding a levy to biodiesel blends with more than 70% fossil fuels. The policy change is meant to stem tax-free imports of gasoil, such as those that reached 1.47 million metric tons this year through October, compared to just over 14,000 tons last year.