Since November 1St, Some Textile Products Have Been Reduced Taxes And The Total Tariff Level Has Dropped To 7.5%.

According to the previous announcement issued by the Customs Tariff Commission of the State Council of China, since November 1st, the most favored nation tariff rate of some commodities has been reduced, involving 1585 taxable items. The average tax rate has dropped from 10.5% to 7.8%, with an average decrease of about 26%.

Mechanical and electrical equipment and parts.

Experts say the tariff reduction is conducive to upgrading the domestic industry, reducing the cost of enterprises and meeting the multilevel consumption needs of the masses, and has also released the positive signal of China's opening up to the outside world.

The head of the Customs Tariff Commission of China's State Council introduced earlier that the tax reduction mainly covers many industrial products such as people's production and living needs, mainly including four aspects: the first is to reduce commodity import tariffs with considerable production capacity and level in the country.

Include

There are 677 taxable items, including building materials, base metal products and steel products, with the average tax rate reduced from 11.5% to 8.4%.

The two is to reduce import tariffs on some mechanical and electrical equipment.

Include

There are 396 taxable items, including light industry, engineering, general purpose, metalworking and power machinery, instrumentation and related equipment, with an average tax rate of 12.2% from 8.8%.

In addition, it also includes the reduction of non-metallic minerals and other resources and primary processing products, as well as the import tariffs that facilitate trade facilitation.

In response, Bai Ming, deputy director of the International Market Research Institute of the Ministry of Commerce of China, said that the reduction of import tariffs is conducive to the supply side structural reform, which shows that the initiative to expand the scope of opening up is two birds with one stone.

"This time, mechanical and electrical products occupy a large part, and the production stage is much used. It is in line with the two structural aspects of the supply side structural reform and the opening up to the outside world, the short board and the opening up of the" two good and one ". We need other countries to look forward to it.

Liu Shangxi, President of the Chinese Academy of fiscal Sciences, also said earlier that lowering tariffs could stimulate competition consciousness of Chinese enterprises and promote more high-quality products.

The fall (customs) tax will produce catfish effect in many industries, stimulate domestic brands and production enterprises to compete, and pform this external pressure into endogenous driving force.

To speed up pformation and upgrading, speed up R & D and provide more quality products.

It is understood that China has reduced tariffs on drugs in May 1st this year, and reduced tariffs on cars and their spare parts and some consumer goods in July 1st.

In the 1-9 month of this year, the Chinese customs implemented the tariff reduction policy which has been implemented and the total tax reduction was RMB 201 billion 500 million yuan.

After the third reduction in import tariffs this year, the total tariff level of China has been reduced to 7.5%. The actual trade weighted average tax rate is lower than that of most developing countries, and has been very close to developed countries.

In addition to lowering import tariffs, China has also implemented a series of new measures to open up, including expanding market access for manufacturing, finance and other services.

In November 5th, the first China International Import Fair will be held in Shanghai. There will be more than 3000 exhibitors from more than 130 countries.

In this regard, Bai Ming said that this shows China's opening up and sharing positive Dividends with the world.

"The Expo will allow the world to see dividends from China's economic development and the dividends they can share.

In addition to directly dealing with and driving the economy, it is more important for them to show themselves at the door of China's market.

For example, the enterprise exhibition can introduce their products and direct pactions. The national exhibition can not only display products, but also understand their country, because some international trade, if you are not familiar with this country, you can hardly expand its product by buying it. "