China to lower import tariffs on 883 products including aviation equipment, logs, paper and IT products
China will lower import tariffs on 883 products from the start of January, including some aviation equipment, logs and paper products, the finance ministry said on Wednesday.
It will also further lower import tariffs on some information technology products from July 1, China’s Ministry of Finance confirmed.
China will lower import tariffs for some non-alloyed nickel and the minor metal niobium in 2021 to encourage more imports of commodities that are in high demand domestically.
The provisional import tariff for “other non-alloyed nickel” – or nickel with a nickel and cobalt content of less than 99.99 per cent – has been set at 1 per cent for 2021, down from 2 per cent in 2020.
The provisional import tariff for unwrought niobium, a metal used in low-alloy steels in the automobile and aerospace industries, has been reduced to zero per cent for 2021 from 1 per cent previously.
The most-favoured-nation tariffs for other non-alloyed nickel and unwrought niobium remains at 3 per cent.