Demand and tariffs cut to boost imports
Print Edition
China’s imports will continue to grow as demand increases and the country reduces tariffs and improves the trading environment, a senior official said at the China Import Forum yesterday in Shanghai.
“Encouraging import is a national strategy to assist faster economic restructuring and promote innovation,” said Liu Shaojun, deputy director-general of the Department of Foreign Trade at the Ministry of Commerce.
“It fits into the goal of letting the market play a decisive role in growth,” he said.
China has been deepening efforts to bolster imports. In 2011, it published a list of 209 types of products to be imported such as technologies, key equipment parts, rare natural resources and environmentally friendly products.
China’s imports rose 7.6 percent in October, up from September’s 7.4 percent. Between 2009 and 2012, China’s imports rose 23.3 percent annually.
Wang Wei, director-general of the ministry’s Tariff Policy Department, said China will further cut tariffs on certain energy products and daily necessity items next year to encourage imports. He noted China has met all promises over tariffs made to the World Trade Organization by 2010.
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