Li made the remarks when addressing the "2006 China Mining" held here recently.

   To this end, the central finance will set to work in three aspects: to improve the mineral resources compensation system; to go on promoting resources tax reform and to deepen reform of paid use of   
resources system.

   Li explains that while improving mineral resources compensation system, China will consider increasing the compensation standards for mineral resources, and establish a floating rate system linked to the utilization level of resources.

   In terms of resources tax reform, China will unify the resources tax rate for domestic and foreign enterprises; turn the mineral use fee for Sino-foreign joint ventures that mine offshore oil and land 
oil resources into oil resources mining tax; and expand the coverage of resources tax.

   China will select some coal mining area to pilot coal resources tax reform.

   The Ministry of Finance has, together with competent departments worked out the "Plan for Implementation of Reform of Paid Use of Coal Resources System", and submitted it to the State Council for approval, Li disclosed.