China to lower tariffs on more foreign products

Date: Dec 25, 2018

China announced on Monday that it would adopt favorable tariff rates on hundreds of foreign goods next year, significantly lowering or cancelling tariffs on certain imported materials and high-tech products, as part of the country’s push to expand imports.

Starting on January 1, China would impose provisional rates on more than 700 foreign products, including zero tariffs on ingredients for livestock feeds and certain medicines, according to a statement from the Ministry of Finance (MOF).

It would also cancel tariffs on four types of solid waste such as manganese slag and lithium ion cells for new-energy vehicles, the statement said. Lower provisional tariff rates would also be adapted to aircraft engines, robots and other advanced equipment.

To read full article please click here