Tariffs reduced in 1,585 categories
By Ma Si and Chen Jia | China Daily | Updated: 2018-10-01 08:17
China will reduce tariffs on a wide range of industrial products and raw materials beginning in November, as the nation ramps up the expansion of imports to further open up its economy, the Ministry of Finance said on Sunday.
The move targets 1,585 tariff code categories, including textiles, metals, electromechanical equipment and other raw materials and products. The affected items account for about 19 percent of the total number of taxed imports in China, with the duty rate dropping from 10.5 percent to 7.8 percent on average, the ministry said.
It is an additional cut since the start of this year, when the government lowered tariffs on automobiles, medicines and some other daily consumer products.
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