China to reduce import duties on a number of imported goods since the beginning of 2017

Almaty. December 26. Silkroadnews – China’s Ministry of Finance plans to adjust tariff rates on part of the export and import goods, “Xinhua” agency reports.

Regulation amendments are expected to come into force as of January 1, 2017.

To meet the domestic demand needs it is planned to reduce customs duties for a number of imported goods, including hydraulic actuators for aircraft, tuna, arctic shellfish and other products.

The duties on such exported goods as nitrogen and phosphate fertilizers are to be cancelled, with export duties to be reduced on steel feeds and similar products.

According to the trade agreements more goods imported from Hong Kong and Aomen will be exempted from the import duties; it is also planned to reduce the duties on a number of products imported from the Republic of Korea, Australia, Pakistan and New Zealand.

China’s customs tariff nomenclature will include 8547 commodity items in 2017.