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China Reduces Import Tariff for Advanced Equipment from 2016
Type:Press|DataChina  Date:2015-12-18  Resource:  Hits:28512  print close

China will adjust some import and export duties from January 1, 2016, aiming to support industrial transformation and upgrading, push forward a change in development mode of foreign trade and promote healthy development of economy, the Ministry of Finance (MOF) announced on Wednesday.

The MOF noted that, tariffs will be adjusted to continue encouraging imports of advanced equipment, crucial parts, energy products and raw materials.

Meanwhile, the scope of the daily consumer goods enjoying tax reduction will be expanded and related import duties on those will be cut, including bags and suitcases, garments, scarf, blankets, vacuum cups and sunglasses.

In 2016, China will also arrange tax cuts targeting free trade agreements with Iceland, Switzerland, Costa Rica, Peru and New Zealand, and closer economic and trade relationships with Hong Kong and Macau, according to the ministry.

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