According to a report cited by state media on Thursday, China needs to reduce its carbon intensity by 4 or 5 percent annually in order to achieve a goal of low-carbon development by 2050. Chinese President Hu Jintao previously promised to slow down the country's carbon emissions, but did not provide a specific target at a UN summit. The China Council of International Cooperation on Environment and Development is expected to present a report to the central government on reducing carbon intensity. The report suggests that in order to achieve the emissions cuts of 4 to 5 percent each year, China must decrease energy intensity by 75 to 85 percent by 2050. The newspaper suggested that the manufacturing industry should decrease from 50 percent to around 30 percent of the national economic structure by the middle of the century. It also stated that by 2030, over half of new energy demand should come from low-carbon sources, and by 2050, all new energy should be clean. Additionally, the promotion of carbon capture and storage technology by 2030 was recommended. The report by a high-level think-tank was noted as the first time concrete proposals to reduce emissions had been made since Hu's September address. The think tank also proposed that China reform its environmental tax system. The report suggests that it is the right time for the country to start taxing companies that emit pollutants and carbon dioxide from burning fossil fuels. This recommendation comes before a significant UN climate conference in Denmark in December. The United Nations is pushing for a stronger, legally binding agreement from all nations to combat climate change at the Copenhagen meeting from Dec. 7-18, but negotiations have been slow and success seems uncertain.