According to a report cited by state media on Thursday, China must reduce its carbon intensity by 4 to 5 percent annually in order to achieve a goal of low-carbon development by 2050. Chinese President Hu Jintao previously pledged to slow the country's rising carbon emissions, but did not announce a specific target to jumpstart climate talks. The China Council of International Cooperation on Environment and Development will present a report to the central government on reducing carbon intensity, with the goal of cutting emissions by 4 to 5 percent each year. In order to meet this target, China will need to reduce energy intensity by 75 to 85 percent by 2050. The newspaper stated that the proportion of manufacturing industry in the national economic structure should be reduced from 50 percent to around 30 percent by the middle of the century. It also mentioned that by 2030, over half of new energy demand should be fulfilled by low-carbon energy, and by 2050, all new energy should be clean energy. Additionally, the newspaper emphasized the promotion of carbon capture and storage technology by 2030. This report is the first time a high-level think tank has proposed concrete measures to reduce emissions since Hu's September address, according to China Daily. The think tank also recommended that China reform its environmental tax system. The report suggests that now is the right time for the country to start taxing companies that release pollutants and carbon dioxide through the burning of fossil fuels. This recommendation comes before a significant UN climate conference in Denmark in December. The United Nations is hoping for a more comprehensive and strict agreement from all nations to combat climate change at the Copenhagen meeting, but progress in negotiations has been slow, leading to concerns about the chances of achieving success.