Views: 0 Author: Site Editor Publish Time: 2019-03-14 Origin: Site
China's Customs Tariff Commission of the State Council announced on Monday adjustments to some import and export tariffs for 2019.In accordance with the relevant provisions of the Regulation of the People's Republic of China on Import and Export Duties, the import and export duties on certain commodities shall be adjusted from January 1, 2019.
To expand imports, more than 700 items of products will be subjected to temporary import tariff rates starting Jan. 1. China will also apply conventional tariffs on products from 23 countries and regions, including further reduction in tariffs under free trade pacts between China and relevant countries, the ministry said. This will result in lower tariffs with trade partners including New Zealand, Peru, Costa Rica, among others.
The move aims to support the Belt and Road Initiative and the development of free trade areas, speed up China's economic and trade cooperation with relevant countries, and create a favorable external condition for the healthy and stable development of the economy in the long term, the ministry said.
Imported goods from China's Hong Kong and Macao into the Chinese mainland will enjoy zero tariffs under relevant pacts on goods trade.