Increase Import Tariffs On Imports Of Some Products For Earthquake Relief

Yesterday, the State Council Tariff Commission issued a notice that it will temporarily cut import duties on some frozen foods such as frozen pork, infant food and some other medicines and cotton products from June 1st.

The notice showed that from June 1, 2008 to December 31st, the import tax rate of frozen pork decreased from 12% to 6%. The import tax rate of 9 items of tax goods, including cod, pistachio, infant food, whey and yeast, was reduced from 6%~25% to 2%~10%. The import duty rate of soybean and peanut meal decreased from 5% to 2%. The import tax rate of 4 items of blood albumin and human vaccines decreased from 3% to 0% at present.

From June 1, 2008 to September 30th, the import tax rate of coconut oil and olive oil decreased from 10% and 9% to 5%, respectively.

From June 5, 2008 to October 5th, a provisional slip tax policy was implemented for certain quantities of cotton imported from the quota, and the sliding rate of high quality cotton imports with higher import prices was reduced from 5%~40% to 3%~40%.

The notice also stipulates that 0% of the provisional tariff rate shall be imposed on the "sawing or other methods to cut into rectangular marble". Appropriate adjustment shall be made to the product range of the electrode paste applicable to the 38249099 provisional tariff rates, and the provisional tariff rate for the import of the broadcast grade video tape recorders shall be adjusted accordingly.

Hu Yijian, a professor at the school of public economics and management of Shanghai University of Finance and Economics, said that the State Council Tariff Commission issued the notice mainly for the needs of earthquake relief.

After the earthquake, food, medicine, clothing, tents and building materials became relatively scarce materials.

In addition to emergency pportation in the country and accepting donations at home and abroad, it is necessary to import overseas from the market.

The temporary reduction of import tariffs on such commodities will encourage and expand imports and make up for the shortage of materials in the affected areas.

Hu Yijian said that the temporary adjustment of the import tax rate of some commodities, though aimed at the needs of earthquake relief, is also in line with the development trend of China's tax policy.