China to lower tariffs on 954 import items from next year

The country aims to support the new development pattern and promote high-quality opening by lowering tariffs provisionally.

Additionally, China will raise import and export tariffs on some commodities from January 1 due to the changes in supply-demand conditions and to drive development of domestic industries.

In order to open up at a higher level, the country will impose conventional tariff rates on some products from 29 nations and regions in accordance with preferential trade agreement and free trade agreements.

China will also be granting preferential tariff treatments in 2022 to LDCs that have established diplomatic relations with it, as per Chinese media reports.

Fibre2Fashion News Desk (KD)