December 31, 2009 - #253
China to Lower Import Tariffs in 2010
According to an article published on the China Daily website, China's Ministry of Finance (MOF) has announced that the country will levy lower tariffs on imports in 2010.
The temporarily lowered tariffs, which will apply to over 600 commodities, will target resource commodities, medical products, components for optic communications, and advanced production machines.
China's overall import tariff level will remain at 9.8 percent next year, compared with 15.3 percent in 2002. The average import tariff levels for farm produce and industrial products will be reduced to 15.2 percent and 8.9 percent, respectively.
No information was specified with regard to the duration or rate of the tariffs.
The full text of the article can be accessed online at:
http://www.chinadaily.com.cn/china/2009-12/15/content_9182222.htm
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