From the AFR:
China has outlined plans to introduce a carbon tax, but the mooted starting price is likely to be a fraction of that under way in Australia.
The Ministry of Finance indicated a starting price of about 10 yuan ($1.50) for each tonne of carbon dioxide emitted, rising to 50 yuan a tonne by 2020.
EU, China, guess we’re not alone after all. The efficacy of the tax will likely be based on proportionate pricing throughout the economy. Therefore the disparity will be nowhere near as great as the article suggests.