China to raise tariffs on certain rare earth exports in 2011

22:00, December 14, 2010      

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China will raise export tariffs on certain rare earths in 2011, said a statement on the website of the Ministry of Finance (MOF) Tuesday.

From Jan. 1, 2011, China will adjust tariff rates on certain exports and imports and the changes have been approved by the State Council, or the Cabinet.

The statement, however, did not specify what types of rare earth products would be included in the readjustment.

China has honored all its commitments to the World Trade Organization (WTO) by 2010 and will continue with the tariff rates for most-favored nations in 2011, the statement said.

China will levy relatively lower yearly temporary imports tariffs on about 600 resources-related products, basic raw materials and key parts in 2011 to boost energy-saving and environmental protection, it said.

Included for the first time in the lower yearly temporary imports tariffs are propane, butane, fatty acid and high-definition cameras, among others.

The statement added China will honor its commitments on free trade or preferential tariffs signed with other countries or regions in 2011.

Following agreements, some countries will enjoy tariffs lower than that of the most-favored tariffs in 2011, including the Association of Southeast Asian Nations (ASEAN) countries, Chile, Pakistan, New Zealand, Peru, the Republic of Korea and India.

According to the economic cooperation framework agreement signed between the Chinese mainland and Taiwan, the mainland will levy agreed tariffs on about 500 products from Taiwan in 2011.

Source: Xinhua
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