China to Lower Import Tariff to 9.9%

22/12/2004

The Tariff Policy Commission of the State Council has announced that China will further cut import tariffs on more than 900 products beginning January 1 of 2005.

This will lower the general level of import tariffs to 9.9 percent from the current level of 10.4 percent.

Meanwhile, China will resume the collection of export tariffs on resource-related products from January 1, 2005, which analysts say is a move to meet strong domestic demand.

The tariff will help encourage the export of high value-added products and optimize the mix of Chinese textile exports, Chong, an official with the Ministry of Commerce said. The tariff rate " will be set by considering the conditions of textile manufacturers. "

"It is also a self-regulation act to avoid anti-dumping actions of other countries," said an official with the General Administration of Customs of China.