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China to continue import tariff cuts
(Xinhua)
Updated: 2004-12-07 13:44

China will adjust the general level of import tariffs downward to 10.1 per cent for nearly one thousand commodities next year. Biz More

China will adjust the general level of import tariffs downward to 10.1 per cent for nearly one thousand commodities starting from January 1st, 2005.

The tariffs for motor vehicles with displacements below above and below 3 liters will all go down to a unitary rate of 30 per cent from the current rates of 34 and 37.6 per cent.

Import quotas and license management for motor vehicles and key accessories will also be scrapped.

Import tariffs for foreign wines, except apple wine, pear wine, honey wine and other fermented drinks, will be reduced to somewhere between 10 -30 per cent, with the biggest drop being 36.7 per cent.

Additionally, import tariffs for cosmetics will be cut step by step in the next 4-7 years, matching other imported product requirements as part of China's efforts to honor its WTO commitments.

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