According to a report cited by state media on Thursday, China needs to reduce its carbon intensity by 4 or 5 percent every year 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 announce a specific target to jumpstart climate talks. 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 annual emissions cuts of 4 to 5 percent, China will need to decrease energy intensity by 75 to 85 percent by 2050. The newspaper suggested that the manufacturing industry's share of the national economy should be reduced from 50 percent to 30 percent by the middle of the century. It also recommended that by 2030, over half of new energy demand should come from low-carbon sources, and by 2050, all new energy should be clean. Furthermore, the newspaper called for the promotion of carbon capture and storage technology by 2030. The China Daily noted that this was the first time a high-level think tank had put forth concrete proposals to reduce emissions since Hu's September speech, and emphasized the need for China to reform its environmental tax system. The report suggests that it 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 is made in anticipation of a key UN climate conference in Denmark in December. The United Nations is aiming for the Copenhagen meeting to result in a more comprehensive and stringent legally binding agreement among all countries to combat climate change. However, negotiations have faced significant obstacles, dampening expectations for a successful outcome.