China Import/Export Tariffs on Positive Role

[2013-06-18 15:11:10]

In 2013, China will continue regulating its import and export with tariffs.

On the one hand, its import will be actively expanded, with lower temporary rates on 784 goods averagely at 4.4%, presenting a concessional margin of 56% compared with MFN duty rate.

On the other hand, the country will strictly control the exports of high-energy consumption, high pollution, and resource intensiveness, with export duties at 2%-40% put on 306 goods of those kinds.

Seen in January-April, the tariffs played positive roles in China’s import promotion, export control, and product-mix improvement.

Regarding the import, the goods under temporary duties totaled USD 100.8 billion, accounting for 15.9% of the total import value, involving consumer goods, medical products, key manufacturing and emerging equipment, components, and raw materials, and products favorable to agricultural development.

Regarding the export, the goods under export duties totaled USD 5.66 billion, down 10.3% year-on-year; many energy/resource-based exports reduced sharply, with metal ore, coal, and crude oil export value respectively down 38%, 39% and 28% year-on-year.

Particularly, the export of chemical fertilizers was subjected to special duties of 75% besides temporary duties, causing a slump at 89.3% year-on-year, with domestic demand met then.
Source: ETCN
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