Tariff changes a boon

China's move to adjust tariff rates on selected products will both help the country reduce its trade surplus and help domestic enterprises cut costs at a time of reduced profits, analysts said.

The country will lower import tariffs on some raw materials next year and raise the export tariffs for high energy-consuming and pollution-producing sectors, the Ministry of Finance said on Wednesday.

Those measures will help reduce China's foreign trade surplus, said Xu Bin, analyst with the Anbound Group, a Beijing-based consulting firm.