China Reduces Tariff Levels

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Last updated at: (Beijing Time) Tuesday, March 26, 2002

China Reduces Tariff Levels

China has cut the average tariff level of over 5,000 imported goods from 15.3 percent to 12 percent from the beginning of this year.

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China to Cut Tariff to 12 % by End of 2002

China has cut the average tariff level of over 5,000 imported goods from 15.3 percent to 12 percent from the beginning of this year.

The average tariff rate of industrial products is lowered to 11. 6 percent. The average tariff rate of agricultural products excluding aquatic products is lowered to 15.8 percent. The average tariff rate of aquatic products is lowered to 14.3 percent.

Among imported industrial products, the average tariff rate of crude oil and refined oil is lowered to 6.1 percent, that of timber, paper and paper products to 8.9 percent, textile and garments to 17.6 percent, chemical products to 7.9 percent, transport vehicles to 17.4 percent, machinery to 9.6 percent and electronic products to 10.7 percent.

China has canceled quota licenses on grain, wool, cotton, fertilizer and some other goods, Shi Guangsheng, Minister of Foreign Trade and Economic Cooperation said here Monday at China Development Forum.

According to its WTO commitments, China will cut the average tariff level to about 10 percent by 2005.

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