29 Dec 2017
China Revises Raft of Import/Export Tariffs as of 1 January 2018
As of 1 January 2018, revised tariffs will apply to a number of China’s import/export product categories, including 948 of the import products currently covered by provisional tax arrangements. The changes were announced in the 2018 Tariff Adjustment Plan, as issued by the Customs Tariff Commission in line with an earlier State Council decree.
In a related move, the most-favoured-nation tariff applicable to imported information technology products will be reduced on 1 January 2018, then further reduced on 1 July 2018. These reductions are intended to ensure that China is in full compliance with the Amendment to the Schedule of Tariff Concessions for the Accession of the People’s Republic of China to the World Trade Organization.
Additionally, China will also apply conventional tariffs to certain goods covered by its existing Free Trade Agreement with Georgia, while further lowering the conventional tariffs applicable to certain product categories designated under the terms of its Free Trade Agreements with the ASEAN bloc, Pakistan, South Korea, Iceland, Switzerland, Costa Rica, Peru, Australia and New Zealand, as well as those categories pertinent to the Mainland-Hong Kong and Mainland-Macau Closer Economic Partnership Arrangement (CEPA).
For further details (in Chinese), please refer to the following link: