China Adjusts Import & Export Duties on Some Products
Year:2019 ISSUE:1
COLUMN:NEWSDESK
Click:207    DateTime:Feb.17,2019


Import and export duties on some products were adjusted, beginning January 1, 2019. To increase imports, reduce institutional costs of imports and propel supply-side reform, provisional import tariff rates were adopted for around 700 products such as aero-engine, welding robots for automobile production lines, natural forage grass and natural uranium. Miscellaneous meal and some raw materials of pharmaceuticals became tariff free. Provisional import tariff rates on part of fur decreased properly, while the provisional rates on four kinds of solid wastes (e.g. manganese residue) were removed. Further, provisional import tariff rates on sulfoxide chloride and lithium ion battery monomer used in NEVs were replaced by most-favored-nation tariff rates.

Ninety-four products including fertilizers, apatite, iron ore, slag, coal tar and wood pulp were exempted from export tariffs on January 1, 2019. In addition, to support China’s “Belt and Road Initiative” and propel economic cooperation with related countries, China is to implement conventional tariff rates on some products originating from 23 countries or regions in 2019, and will:


* lower tariffs continually as detailed in free trade agreements signed with New Zealand, Peru, Costa Rica, Switzerland, Iceland, Australia, Korea and Georgia, and Asia-Pacific Trade Agreement
* impose zero tariffs on import goods originating from Hong Kong and Macau
* adjust special preferential rates applying to Bangladesh and Laos
* lower most-favored-nation tariff rates on 298 information technology products for the fourth time on July 1, 2019 
* adjust provisional tariff rates on some information technology products on July 1, 2019