Published: 18:16, December 15, 2021 | Updated: 22:57, December 15, 2021
China to lift tariff for least developed nations
By China Daily

In this undated photo, a US cargo ship docks at the Qingdao Port, Shandong province. (YU SHAOYUE / FOR CHINA DAILY)

China will grant zero tariff treatment to 98 percent of tariff items of the least developed countries, according to an announcement of the Customs Tariff Commission of the State Council on Wednesday.

China will grant the preferential tariff treatments next year to the least developed countries that have established diplomatic relations and completed the exchange of letters with China.

China will also implement provisional tariffs that are lower than the most-favored-nation rates on 954 imported commodities

According a circular issued by the commission, China will also implement provisional tariffs that are lower than the most-favored-nation rates on 954 imported commodities

The adjustment, involving commodities including cancer drugs, aquatic products and baby clothing, will take effect on Jan 1, 2022.

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The 954 products also include ski gear, artworks, auto parts that help reduce greenhouse gas emissions, high-voltage cables for high-speed trains, and fuel-cell components.

Considering the development of domestic industries and changes in supply-demand conditions, the country will raise import and export tariffs from Jan 1 on some commodities within the range of its accession commitments to the World Trade Organization, according to the circular.

For instance, it will impose higher export tariffs on phosphorus and blister copper to push forward the upgrades and high-quality development of related industries.

In accordance with the free trade agreements and preferential trade arrangements with other countries or regions, China will impose conventional tariff rates on some products from 29 countries and regions amid efforts to open up at a higher level.

READ MORE: China unveils lists of US goods to be exempted from new tariffs

China will grant the preferential tariff treatments next year to the least developed countries that have established diplomatic relations and completed the exchange of letters with China.


With Xinhua inputs