After deliberation and approval by the Tariff and Tax Commission of the State Council and submitted to the State Council for approval, the import and export tariffs of some commodities will be adjusted as of January 1, 2019.

      The responsible person of the Customs Department of the Ministry of Finance introduced that in order to actively expand imports, reduce the institutional costs of import links and promote structural reform on the supply side, China will implement temporary tariff rates on imports of more than 700 commodities, including adding zero tariffs on miscellaneous meals and some raw materials for pharmaceutical production, appropriately reducing the temporary tariff rates on cotton slip and some fur imports, and abolishing four solids such as manganese residue. The provisional tariff rate for waste import shall be abolished, the provisional tariff rate for sulfoxide chloride and lithium-ion battery monomers for new energy vehicles shall be abolished, and the MFN tariff rate shall be resumed. We will continue to implement lower temporary tariffs on imports of advanced equipment such as aeroengines, welding robots in automobile production lines, natural forage, natural uranium and other resource products urgently needed for domestic development.

      In order to meet the needs of the reform of the export management system and promote the structural adjustment, quality improvement and efficiency improvement of the energy and resources industry, since January 1, 2019, 94 commodities such as chemical fertilizer, apatite, iron ore, slag, coal tar and wood pulp will no longer be subject to export tariffs.

      In order to support the construction of the "one belt and one way" and free trade area, accelerate the economic and trade cooperation between our country and other countries, and create external conditions conducive to long-term, healthy and stable development of the economy, in 2019, China implemented the agreement tax rate on some commodities originating in 23 countries or regions. And the Asia-Pacific Trade Agreement. According to the goods trade agreements signed between the Mainland, Hong Kong and Macao, zero tariffs will be fully implemented on imported goods originating in Hong Kong and Macao. With the lowering of MFN tax rate, the preferential tax rates of Bangladesh and Laos under the Asia-Pacific Trade Agreement are adjusted accordingly.

       From July 1, 2019, China will also implement the fourth step of lowering the MFN tax rate on 298 information technology products, and adjust the provisional tax rate of some information technology products accordingly.

      These adjustments are conducive to giving full play to the important function of overall utilization of domestic and international markets and resources, balanced development of domestic related industries, open cooperation, sharing development results and stable growth of China's foreign trade.

Related news

      On December 24, the Ministry of Finance reported that the State Council Tariff and Tax Commission issued the Notice on the Adjustment Program of Temporary Import and Export Tax Rates for 2019, announcing that the import and export tariffs of some commodities will be adjusted as of January 1, 2019. Among them, zero tariff will be fully implemented on imported goods originating in Hong Kong and Macao.

      Vietnam Connector Factory is a company specializing in the development, design, manufacture and sale of needle-row connectors, USB 2.0 data lines, USB 3.0 data lines, Type C data lines, network lines, data lines and other connection lines. It has a complete and scientific quality management system, which has passed the certification of ISO9001 international quality management system; National Consulting Hotline: 86-755-88210101-3,