China Will Adjust Some Import And Export Tariffs Next Year

The Ministry of Finance issued a 14 day report and was examined by the Customs Tariff Commission of the State Council and submitted to the State Council for approval. China will adjust some imports and exports from January 1, 2011 onwards.

China will adjust the import and export tariffs in the coming year at the end of each year.

The Ministry of Finance said that compared with previous years, this year's adjustment efforts were not great, but under the background of accelerating the pformation of the mode of economic development, the intention of regulation and control became more prominent.

China's accession to the world trade organization's tax reduction commitments were completed in 2010.

The Ministry of Finance said that MFN rates in China will remain unchanged in 2011.

On this basis, next year will continue to implement tariff quota management for 3 kinds of fertilizers, such as wheat, 7 kinds of agricultural products and urea, and 1% provisional quota tax rates for 3 kinds of fertilizers such as urea.

A certain amount of cotton will be applied to the import tariff quota, and the rate will remain unchanged.

We will continue to implement quantity tax or compound tax on 55 kinds of products, such as frozen chicken, and appropriately adjust the amount tax from a small quantity of merchandise.

The Ministry of Finance said that in 2011, China will implement a relatively low annual import tariff rate for more than 600 kinds of resources, basic raw materials and key parts and components.

Among them, the first implementation of the annual import provisional tax rate includes propane, butane and other resource-based commodities, fatty acid, polyimide film, titanium strip and other basic raw material products, high-definition cameras, LCD projector polarizer, electronic parking brake system and other key components.

In 2011, China will also increase or cancel the annual import tariff rate of carbon fiber yarns, ion exchange membranes, supercharger and other commodities.

In addition, in 2011, China will continue to levy export tariffs on products such as coal, crude oil, chemical fertilizer and non-ferrous metals in the form of provisional tax rates.

In order to regulate the export of rare earth and alleviate the rising trend of fertilizer prices, China has also increased the export tariffs of individual rare earth products, and has appropriately adjusted the applicable period and the off-season export tariff base price for the season of chemical fertilizer export season, so as to guarantee the demand for chemical fertilizers in spring in the coming year.