China to Slash Import Duties on 33 Products

  • Tuesday, June 28, 2011
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  • Keywords:China, duty, ferroalloy
[Fellow]
China will cut import duties on diesel and jet fuel to zero from July 1, while sharply lowering tariffs on 33 products, reports xinhuanet.com, citing the Ministry of Finance.
 
According to a report by China Business News, tariffs on fuel oil will be cut from three percent to one percent.
 
In addition to energy and raw materials, import duties will be slashed for blended fabrics, a number of disaster relief equipment, such as tents, life jackets and on non-ferrous metals such as scrap nickel and zinc.
 
According to the Ministry of Finance, the move to cut tariffs is to expand imports of advanced equipment, key components, energy and raw materials, improve the trade balance, and to ensure the stable growth of the domestic economy.
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