Thursday, December 18, 2008

Minor changes to tariffs in 2009

CHINA will keep its general tariff level at 9.8 percent next year, the same as this year and last year.

The nation would lower import tariffs on five commodities, including fresh strawberries, from January 1, the Ministry of Finance said yesterday. The tariff level for farm produce will be maintained at 15.2 percent and that for industrial products at 8.9 percent. The ministry said tariffs on specific items would also be adjusted to support agriculture and the industries in difficulties such as textile, steel and fertilizer. The ministry said China was almost at the finish line in respect to honoring the commitments of cutting tariffs it made upon joining the World Trade Organization in 2001 when the nation's general tariff level was 15.3 percent.

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