China has delayed the launch of a new resource tax on concerns about its inflationary impact, the official Shanghai Securities News reported, citing a source close to the matter.

The source said that a resource tax was proposed to China's State Council, or cabinet, but approval has not been granted.

The report said the lack of approval could represent a delay and not an outright rejection of the tax, with a delay of about three months expected.

Late last wek coal producers' shares were under pressure on rumors of such a tax to be announced over the weekend, focusing on a shift to taxation by price instead of volume, with the list of taxable resources also expanding.