China will partially adjust import and export tariffs starting early next year

In order to thoroughly implement the principles of the 18th CPC National Congress and the 3rd Plenary Session of the 18th CPC Central Committee and implement the principles of stabilizing growth, structural adjustment, and reform, we will further improve the prospectiveness, accuracy, and scientificity of tariff adjustment, promote economic restructuring, and support enterprises. The development of independent innovation and strategic emerging industries to promote balanced growth of foreign trade has been reviewed by the Customs Tariff Commission of the State Council and approved by the State Council. Since January 1, 2014, China will make partial adjustments to import and export tariffs.

In accordance with China's commitment to China’s WTO accession and macroeconomic regulation and control, in 2014, China will continue to implement tariff quota management on the import of three kinds of fertilizers, including 7 kinds of agricultural products such as wheat and urea, and implement a temporary quota tax rate of 1% on three kinds of chemical fertilizers such as urea. A certain amount of cotton is added to the import of tariffs to continue to implement the sliding tax, and the tax rate is adjusted appropriately to ensure that the supply and demand of the domestic cotton market is basically stable. A specific tax or compound tax was imposed on 47 products such as frozen chickens, of which, according to the changes in the average import prices and the changes in the exchange rate of RMB against the US dollar, the specific taxes and compound tax amounts for a small amount of goods were appropriately adjusted.

In order to meet domestic economic and social development and consumer demand and promote economic restructuring, China will implement an annual import tariff that is lower than the MFN tariff rate for over 760 imported goods in 2014, with an average discount rate of 60%. Among them, new and further reductions in tax rates include equipment, components, and raw materials required for strategic emerging industries such as piston aero-engines, cell phones, and tablet computer modules; natural pastures and other agricultural products; audio life detectors, etc. Rescue supplies. At the same time, in order to give full play to the role of tariffs in promoting industrial restructuring, according to the changes in domestic industrial development and transformation and upgrading, certain commodities such as optical fiber preforms and multi-jet turbo gasoline engines will no longer be subject to annual import tariffs in 2014. .

In order to implement the spirit of the Third Plenary Session of the 18th Party Central Committee on building an ecological civilization and maintain the continuity and stability of macroeconomic regulation and control, China continued to impose export tariffs on coal, crude oil, fertilizers, and ferroalloys in 2014 in the form of a tentative tax rate. Tariffs, which appropriately lower the tariff rate on fertilizer exports.

In order to implement the strategy of accelerating the implementation of the free trade zone, in 2014, based on free trade agreements or tariff preference agreements signed between China and relevant countries or regions, it continues to be native to ASEAN countries, Chile, Pakistan, New Zealand, Peru, Costa Rica, South Korea, India. Some imported products from Sri Lanka, Bangladesh and other countries implement the agreed tax rate, and some tax rates have further decreased. Under the framework of the Mainland's Closer Economic Partnership Arrangement with Hong Kong and Macau, zero tariffs will be imposed on products originating in Hong Kong and Macau that have already established preferential origin standards. According to the cross-strait economic cooperation framework agreement, zero tariffs are applied to some products originating in Taiwan. Continue to apply preferential tax rates on some products originating from 40 LDCs, such as Laos, Sudan and Yemen, and expand the range of preferential tax rates for Sierra Leone, Samoa, Tanzania, Chad, and Senegal.

In order to meet the needs of economic and social development, scientific and technological progress, strengthening import and export management, and responding to international trade disputes, some tariff items in the import and export tax regulations were adjusted in 2014. CNC crankshaft grinders, three-dimensional printers, welding robots, crystals, and tourmaline were added. Tax items. After adjustment, the total number of import and export tax items in 2014 increased from 8,238 in 2013 to 8,277.