| China to Enforce Newly Adjusted Interim Tariff Rates for Some Imports and Exports as from Nov |
| Tuesday,October 31,2006 Posted: 08:30 BJT(0030 GMT) MOFCOM |
China will enforce newly adjusted interim tariff rates for some imports and exports as from Nov, which implementing relatively low temporary tariff over 58 imports and exports. In such adjustment, tariff rates of 7 key equipments or parts that benefit for technical innovation and production of energy saving product will reduce from current 1%-7% to 0%-3%. Tariff rates of 26 resources product, such as coal, oil products and aluminum oxide will reduce from 3%-6% to 0%-3%. Tariff rates of 16 fertilizer product like synthetic ammonia will reduce from 3%-5.5% to 1% and tariff quota rates of 3 fertilizer like urea will reduce to 1%. Meanwhile, China will enforce export surtax on 110 goods with the form of interim rates. Out of which interim rates for export of 44 mineral products such as apatite, lanthanon metal ores mine and metal ores is 10%, for 4 energy resources products like coal, coke and crude oil is 5%, for 11 nor-ferrous metal like copper, nickel and electrolytic aluminum is 15%, for 30 steel products like ferroalloy, pig iron, billet is 10% and for 21 products like lanthanon compound, wood flooring and disposable chopsticks. It is considered that such adjustment will benefit for further encouraging import of resource and technical innovation products, controlling export of high energy consumption, high pollution and resources products. (Source: Network Center of MOFCOM) |
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