According to a report cited by state media on Thursday, China must decrease 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 promised to slow the country's increasing carbon emissions, but did not provide a specific target. The China Council of International Cooperation on Environment and Development will present a report to the government on reducing carbon intensity, suggesting that China will need to reduce energy intensity by 75 to 85 percent by 2050 in order to meet the emissions reduction target. The China Daily reported that in order to reduce emissions, the manufacturing industry's proportion within the national economic structure would have to decrease from 50 percent to around 30 percent by the middle of the century. The newspaper also stated that by 2030, more than half of new energy demand should come from low-carbon energy sources, and by 2050, all new energy should be clean energy. Additionally, the report recommended promoting carbon capture and storage technology by 2030. This was the first time a high-level think-tank had proposed concrete measures to cut emissions since Hu's September address, according to the China Daily. The think tank also suggested that China should reform its environmental tax system. The report suggests that now is the right moment for the country to start imposing taxes on 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 strong, enforceable agreement from all countries to combat climate change at the Copenhagen meeting from December 7-18, but progress in negotiations has been slow, leading to decreased optimism for a successful outcome.