SHANGHAI (Reuters) – China will reduce tariffs on imports of ethane, some recycled raw materials and aluminum from next year, the Chinese government said on Saturday.
The Ministry of Finance said in a statement that it announced amendments to various categories of import tariffs, effective January 1, with the aim of increasing imports of high-quality products, expanding domestic demand, and promoting openness at a high level.
The ministry said temporary import tariffs lower than most-favored-nation rates will be applied to 935 goods. Import tariffs on ethane and some recycled copper and aluminum raw materials will be reduced to promote green and low-carbon development.
Tariffs will rise on goods including molasses and pre-mixed powders containing sugar, but will be reduced on items such as cyclic olefin copolymers, ethylene vinyl alcohol copolymers and automatic transmissions for special purpose vehicles such as fire trucks and repair vehicles.
Import tariffs will also be reduced on items such as sodium zirconium cyclosilicate, viral vectors for CAR-T tumor therapy, and nickel-titanium alloy wires for surgical implants.
The ministry said that the free trade agreement between China and Maldives will enter into force on January 1, with the implementation of tariff reductions.
