China adjusts the import tariff of some commodities from January 1, 2020

In order to implement the spirit of the 19th National Congress of the Communist Party of China, the second, third and fourth plenary sessions of the 19th Central Committee of the Communist Party of China and the central economic work conference, and promote the high-quality development of trade, with the approval of the State Council, the Tariff Commission of the State Council has recently issued a notice, and since January 1, 2020, the import tariff of some commodities will be adjusted.

In order to actively expand import, stimulate import potential and optimize import structure, China will implement provisional import tax rate lower than MFN tax rate for more than 850 goods from January 1, 2020. Among them, in order to better meet the needs of people's life, moderately increase the import of domestic consumer goods which are relatively short or with foreign characteristics, increase or reduce the provisional import tax rates of frozen pork, frozen avocado, non frozen orange juice and other commodities; in order to reduce the cost of drug use and promote the production of new drugs, implement the alkaloid drugs for asthma treatment and raw materials for the production of new diabetes drugs Zero tariff; in order to expand the import of advanced technology, equipment and parts, support the development of high-tech industry, add or reduce the provisional import tariff rate of semi-conductor testing and sorting taping machine, high-pressure turbine clearance control valve, hydraulic torque converter and aluminum valve core for automatic gearbox, niobium iron, multi-component integrated circuit memory, large axis film raw materials, dispersion solution for photoresist, culture medium and other commodities In order to encourage the import of resource products in domestic demand, the provisional tax rates for the import of some wood and paper products will be increased or reduced.

In order to promote the coordinated development of trade and environment, in accordance with the relevant spirit of the State Council banning the import of solid waste with great environmental harm and strong public reflection, and in line with the adjustment time of the import waste management catalogue, from January 1, 2020, the provisional import tax rates of tungsten waste and niobium waste are cancelled, and the most favored nation tax rate is resumed.

In order to promote the construction of the "one belt and one way" high quality development, build a global high standard free trade area network and implement a mutually beneficial and open strategy, according to our FTA or preferential trade arrangements signed with the countries or regions concerned, China will continue to implement the agreement tax rate on some commodities originating in 23 countries or regions in 2020. Among them, China and New Zealand, Peru, Costa Rica, Switzerland, Iceland, Singapore, Australia, South Korea, Georgia, Chile, Pakistan Free Trade Agreement and Asia Pacific Trade Agreement will further reduce taxes. In 2020, we will continue to implement preferential tax rates for the least developed countries that have established diplomatic relations with China and completed the exchange formalities, and adjust the countries to which preferential tax rates are applicable according to the list of the least developed countries of the United Nations and the transitional arrangements of China.

From July 1, 2020, China will implement the fifth step to reduce the MFN tax rate of 176 information technology products, and at the same time, adjust the provisional import tax rate of some information technology products accordingly.

According to the office of the Tariff Commission of the State Council, the above-mentioned adjustment measures are conducive to reducing import costs, promoting the orderly and free flow of international and domestic factors, promoting the construction of a new open economic system with a higher level, improving the level of opening up, continuously expanding new space for Trade Development, accelerating the construction of a high-standard free trade area, and sharing development with other countries and regions We will create a new situation in international trade featuring open cooperation, inclusiveness, inclusiveness and win-win sharing.

Article from Xinhua News Agency