19 Jun 2010

VP wants briefing on mining tax

9:49 am on 19 June 2010

Vice-President Xi Jinping of China wants a briefing on a proposal by the federal government of Australia to introduce a new tax on mining companies.

Mr Xi will arrive in Australia on Saturday from New Zealand.

The ABC reports he will use the visit to focus on trade and economic issues, including the new mining tax.

Labor has proposed a tax of 40% on the profits of mining companies. It anticipates an annual revenue of $A9 billion.

Mr Xi is travelling with a large delegation from state-owned companies and will meet the heads of various Australian companies during his five-day visit.

He is due to meet Prime Minister Kevin Rudd and Opposition Leader Tony Abbott at Parliament House next week.