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China Implements Fourth Successive Tariff Cut for IT Products

For the fourth time since the implementation of Information Technology Agreement (ITA), China has reduced most-favoured-nation (MFN) tariff rates on all ITA products listed in the Amendment to the Schedule of Tariff Concessions for the Accession of the People’s Republic of China to the World Trade Organisation. The move, which came into effect on 1 July this year, is in line with the Plan for the Adjustment of Provisional Tariff Rates on Imports and Exports in 2019 as previously circulated by the General Administration of Customs.

This latest round of tariff rate cuts extends across 298 items, with the applicable rates reduced by between 0.3% and 7.5%. Prior to this, the tariff rate for a further 186 tariff items had already been reduced to zero. Consequently, the MFN tariff is now zero for ITA products across 308 HS codes, which together account for 63.6% of all ITA products.

Source: General Administration of Customs

Content provided by Picture: HKTDC Research
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