Tariffs on imports to be adjusted
Print Edition
CHINA will adjust import tariffs on a range of products from January 1, 2021 to support fostering the new development paradigm and promoting high-quality development, according to the Customs Tariff Commission of the State Council.
Provisional import tariffs that are lower than the most-favored-nation rates will be levied on 883 commodities, including some anti-cancer drugs and raw materials for infant formulas, the commission said. It will also adjust provisional import tariff rates implemented in 2020 considering changes in domestic industrial development and supply-demand situations.
In accordance with the free trade agreements and preferential trade arrangements with other countries or regions, China will impose conventional tariff rates on some imported products.
Tariff rates will be lowered after the free trade agreement between China and Mauritius takes effect on January 1, 2021. Further tariff reduction will be made under the free trade agreements China has signed with countries including New Zealand, Peru, Costa Rica, Switzerland, Iceland, Pakistan, Chile, Australia, South Korea, Georgia, as well as the Asia-Pacific Trade Agreement.
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