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China to drastically lower import tariffs from Jan 1

19
Dec '11
China will drastically lower import tariffs on a number of goods shipped into the country from January 1, 2012, after approval of State Council.

According to a document released by the Ministry of Finance, China will reduce import duty on over 730 kinds of commodities in 2012.

The average import duty rate will be 4.4 percent, which is more than 50 percent lower than tariff imposed on goods imported from countries having Most Favoured Nation (MFN) status.

Fibre2fashion News Desk - China


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