China will appropriately lower import tariffs on cotton spinning

The relevant person in charge of the Ministry of Finance said on February 17 that after this tax reduction, in addition to the one-year tax reduction implementation period for five kinds of fresh strawberries and other commodities, China has basically fulfilled its tax reduction commitments after joining the WTO. The level was reduced from 15.3% at the time of accession to the current level to 9.8%. In 2013, China will appropriately reduce import tariffs on wool, wool tops, and cotton.

From January 1, 2009, China will further adjust the import and export tariffs and will implement a series of more preferential tariff measures to expand foreign economic and trade cooperation with relevant countries and regions. This mainly involves the MFN tax rate, the annual provisional tax rate, the agreed tax rate, the preferential tax rate, and the tariff line.

The relevant person in charge of the Ministry of Finance said yesterday that after the tax reduction, in addition to the one-year tax reduction implementation period for five kinds of commodities such as fresh strawberries, China has basically fulfilled its tax reduction pledge to join the WTO, and the total tariff level has been added. At the time of the WTO, 15.3% fell to the current 9.8%.

Reducing import tariffs on five commodities in 2013 This year, China will continue to fulfill its commitment to join the World Trade Organization on tariff reductions, and further reduce the import tariffs on five kinds of fresh strawberries, etc.; continue to wheat, corn, rice and rice, sugar, wool, wool top 7 kinds of agricultural products such as cotton and cotton, and 3 kinds of chemical fertilizers such as urea, compound fertilizer and diammonium hydrogen phosphate are subject to tariff quota management. Among them, tariffs are allocated for the import of a certain amount of cotton to tariffs, and the tax rate remains unchanged; for urea, Compound fertilizers and diammonium phosphate continue to implement a 1% provisional quota tax rate. After adjustment, the average tax rate for agricultural products in China was 15.2%, and the average tax rate for industrial products was 8.9%.

Next year, China will implement a lower import tariff for more than 670 kinds of commodities and continue to implement the selection tax on imported natural rubber.

The relevant person in charge of the Ministry of Finance stated that in order to maintain the stable development of foreign trade, it is necessary to expand bilateral and multilateral economic and trade cooperation and promote regional economic development. In 2009, based on a series of free trade agreements and preferential tariff agreements signed with relevant countries and regions in the past, China will further implement treaty tax rates and preferential tax rates that are more preferential than MFN tax rates.

In implementing the proactive fiscal policy, next year a lower provisional tariff rate on imports of agricultural production materials, agricultural machinery and equipment and components will be implemented. The provisional tax rate for the import of soybean cakes, pork, and oyster sauce was cancelled, and it was restored to the most favored nation tax rate. At the same time, it continues to impose seasonal export tariffs on fertilizer exports and continues to impose special export tariffs on certain fertilizers and their raw materials such as compound fertilizers.

The provisional tariff rate for imports of certain key equipment and components that are temporarily unable to produce or whose technical and technical performance indicators cannot meet the needs, as well as key equipment and components that are conducive to the introduction and promotion of new technologies, will be implemented.

To ease the operational difficulties faced by the textile, steel, and fertilizer industries, China will appropriately lower import tariffs for some of its domestically-grown productive raw materials in 2009, and continue to implement the elimination of some steel export tariffs and adjustments starting from December 1, 2008. Urea and other fertilizers export seasonal tariff policy, while reducing the part of fertilizers and their raw materials, special export tariff rates.

In addition, the state has adjusted some of the tax items in the import and export tariffs. The total number of import and export taxes for 2009 in China has increased from 7,758 in 2008 to 7,868.