From 2024 to 2028, tax expenditure on fossil fuels for consumers in China is forecasted to increase slightly each year, starting from 0.053% of GDP in 2024 and reaching 0.061% by 2028. The average annual growth rate, or CAGR, over this period is approximately 2.34%. In comparison to 2023, where the tax expenditure stood at 0.052% of GDP, the trend indicates a steady incremental rise.

Future trends to watch for:

Potential policy shifts towards renewable energy incentives that may alter fossil fuel taxation.
Economic factors such as GDP growth impacting future tax expenditure percentages.
Global energy market fluctuations influencing China's fossil fuel tax strategies.