Green tax incentives should not focus solely on heavy asset industries.

As the "14th Five-Year Plan" enters its final year, the "15th Five-Year Plan" will become a critical window for China's green and low-carbon transformation. As a fundamental tool of national governance, taxation's role in signaling policies and guiding resource allocation will become even more prominent.

Data shows that among current green tax incentives, wind power, photovoltaics, and other new energy projects account for over 60%, but coverage is mainly concentrated in heavy asset, high energy consumption industries, while internet, finance, and other service-oriented companies generally find it difficult to benefit. If the current green tax policies continue to follow the traditional approach that only targets heavy asset industries, they may struggle to meet the demands of comprehensive green transformation.

To understand green tax policies, one must first grasp their dual economic nature: improving energy efficiency + internalizing environmental externalities.

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