China is set to reduce import tariffs on ethane and certain recycled copper and aluminum raw materials starting next year, the government announced on Saturday (December 28).
The Ministry of Finance outlined changes to various import tariff categories, effective January 1, as part of efforts to boost imports of high-quality goods, stimulate domestic demand, and foster greater openness. This plan “will help increase the imports of quality products,” a statement from the Customs Tariff Commission of the State Council said.
Lower Tariffs On Green Materials
Provisional tariffs below the most-favored-nation rates will be applied to 935 products, according to the ministry. Reductions on ethane and specific recycled copper and aluminum materials aim to support green and low-carbon initiatives.
While tariffs on items like molasses and sugar-containing pre-mixed powders will increase, they will decrease for products such as cyclic olefin polymers, ethylene-vinyl alcohol copolymers, and automatic transmissions for specialized vehicles like fire engines and repair trucks.
Tariff Cuts Boost Medicine, Trade
Additional reductions will apply to products including salt zirconium cyclosilicate, viral vectors for CAR-T cancer therapy, and nickel-titanium alloy wires used in surgical implants.
The China-Maldives Free Trade Agreement will also come into effect on January 1, implementing further tariff reductions, the ministry added.
Zero-Tariff Support For 43 Nations
China will maintain zero-tariff treatment on all tariff lines for 43 least-developed countries with diplomatic ties, aiming to promote their development and enhance mutual benefits, according to the commission. Additionally, new tariff categories will be introduced for items like pure electric passenger vehicles to drive industrial growth and advance scientific and technological innovation.
