The Impact of Carbon Tax on Macroeconomy and Petrochemical Industry of China
Carbon tax,as a price-based emission reduction tool,is one of the important forms of carbon pricing mechanism,which has been implemented in more than 30 countries(regions)in the world.As a major carbon emitter,China should levy carbon tax timely,which is of great significance for playing the guiding role of tax policy on green and low-carbon development,making up for the defects of carbon trading pricing effectively,and achieving the carbon peaking and carbon neutrality goals.Based on the latest input-output table,this paper constructs a computable general equilibrium model of carbon tax in China,adopts a dynamic carbon tax adjustment mechanism,and simulates the impact of carbon tax on macroeconomy and industrial economy.The paper finds that:levying carbon tax will have a negative impact on China's GDP and other economic indicators,but it will also curb the development of high-energy-consuming industries,thus optimizing the industrial structure;implementing carbon tax will enhance the market competitiveness of low-carbon emission industries such as pharmaceutical products,while for high-carbon emission industries such as basic chemical raw materials,levying carbon tax will lead to a double decline in their output and export;the implementation of carbon tax policy will significantly reduce the energy consumption and carbon emission of high-energy-consuming petrochemical industry,which is conducive to promoting the low-carbon development of petrochemical industry.