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China Set to Introduce an Additional 1,585 Tariff Cuts as of November 1

China is to reduce the Most-Favoured-Nation (MFN) tariff on 1,585 taxable items as of 1 November this year. This will coincide with the provisional MFN tariff rates being abolished for 39 import items, while the existing MFN provisional tariff rates will remain in force for all goods unaffected by this latest round of cuts.

The new tariff reductions extend across a wide range of items, including textile products; stone, ceramic and glass products; certain steel and base metal products; electromechanical products and parts (including metal processing machinery, textile machinery, construction machinery, power transmission and distribution equipment, electrical devices and instruments and meters); and resource products and primary processed goods (such as non-metallic ores, inorganic chemicals, timber, paper products and gemstones).

In total, the tariff reductions apply to 19% of all taxable import items, with the average tariff rate having fallen from 10.5% to 7.8%. The changes were announced by the Customs Tariff Commission and follow an earlier directive from the State Council.

For further details (in Chinese), please visit the following links:

Announcement of Customs Tariff Commission on Reducing the Import Tariffs on Some Goods (Announcement No. 9 [2018])

China Lowers Average MFN Tariff Rate to 7.5%

China to Introduce Further Tariff Cuts and Opening-up to Foreign Investors

Content provided by Picture: HKTDC Research
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