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The State Council has withdrawn the Yangtze Waterway Maintenance Fee as part of its reform on petrol tax. This means that the fee, approved by the council in February 1987 and paid by all shipping companies ever since, will cease to exist. The total cumulative collection of Rmb4bn was used to compliment central government funding for improving shipping conditions of the Yangtze trunkline. Analysts believe that the move will ease some cash pressure on struggling shipping lines in the current difficult economic climate.
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