The Ministry of Finance made an announcement today that the import and export tariff was to adjust again since Jan. 1st 2009, including the most-favored-nation rates of duty, annual tentative tariff, conventional tariff, preferential duties, as well as H.S. code and category of tax. After the adjustment, the average tariff in China would remain as 9.8%. The Chinese government kept its promise generally of lowering the tariff when entering into the WTO. 670 items would enjoy the lower import tentative tariff next year. Textile related items included air-jet loom and auto winder.
The government also adjusted the product category of non-tariff-free for domestic investment recently and added 36 items. This meant those 36 investing product could not enjoy the tariff-free policy from now on. Those items included some engineering machinery, textile machinery and chemical industry machinery, for which the domestic manufactures had made big progress in recent years. This policy was regarded as a favorable measure to improve domestic demand.
The government also adjusted the product category of non-tariff-free for domestic investment recently and added 36 items. This meant those 36 investing product could not enjoy the tariff-free policy from now on. Those items included some engineering machinery, textile machinery and chemical industry machinery, for which the domestic manufactures had made big progress in recent years. This policy was regarded as a favorable measure to improve domestic demand.
