It was not an immediate carbon tax, it was a message to industry and the world that they decided that they will in fact set up a carbon tax, soon. How much, and the rules, have not been established, but it was also a political football tossed at the USA!
I see CGYV as a long term play, and the biggest risk being the SEC and their short-henchman audit mob closing down trading of all the China stocks here. They have already nearly wiped them out in value.
My main reason for having some faith in CGYV is the 5 million dollar personal guarantee the CEO used to borrow money to build the new plant in 2010. And then he followed up with a new big four auditor switch and got the financials in order after being 1.5 years behind in 2011.
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