Between 2024 and 2028, China's tax expenditure on all fossil fuels for transportation is forecasted to rise steadily, from $7.32 billion to $8.85 billion USD in constant 2020 dollars. This represents a consistent year-on-year growth of approximately 5%, with a five-year compound annual growth rate (CAGR) highlighting this stable upward trajectory. The baseline for 2023 isn't specified but understanding past trends can infer a lower expenditure compared to 2024 onward.
Future trends to watch for include:
- Potential policy shifts toward renewable energy sources that could alter tax expenditure on fossil fuels.
- Technological advancements in transportation impacting fuel efficiency and consumption.
- Economic factors influencing overall demand for fossil fuels in transportation.
