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Tariffs Lowered on Mechanical and Electrical Products
China reduced tariffs on 22 items of mechanical and electrical products on January 15, 2001, the Ministry of Foreign Trade and Cooperation said. The eighth reduction in tariffs since 1992, the measure is an important part of China's opening up policy.
According to the latest issue of Beijing Review, it is reported that the 22 items include five kinds of imports, which need quota licenses; the other 17 types of imports are under special government management.
Currently, China divides imported products into three categories: products requiring quota licenses; special government managed products and automatically registered products. Of these, non-tariff measures apply to quota licenses and special government managed imports. In order to enter the World Trade Organization(WTO), the Chinese Government lowered the general customs tariff on January 1, 2001, to 15.3 percent from 16.4 percent.
China is not subject to WTO regulations, before it joins the WTO. But China has taken the initiative to lower tariffs and apply some non-tariff measures. This demonstrates China¡¯s resolution and confidence in joining the WTO. And more importantly, all this has pushed Chinese enterprises to the threshold of the WTO so that they are prepared for the coming impact and challenges of China being a member of the WTO.
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