More Than 850 Imported Goods Will Enjoy The "Bonus" Of Customs Duties, Specifically Looking At What Can Be Spent Less.

The Customs Tariff Commission of the State Council recently issued a notice that the import tariff of some commodities will be adjusted from January 1, 2020, and 859 imported commodities will enjoy the "dividend" of tariffs, many of which are closely related to the daily life of the people.

Many of the imported commodities are domestic consumer goods which are relatively scarce or have foreign characteristics. For example, avocado, commonly known as avocado, is mainly produced in Mexico and Central America. China has less domestic production, so this time the import duty of frozen avocado will be reduced from 30% to 7%. In addition, the import duty of frozen pork dropped from 12% to 8%. This is mainly to consider the appropriate increase in pork imports, which can effectively alleviate domestic pressure of supply and demand. At the same time, zero tariff will be applied to pig feed to help domestic pigs resume production.

In addition to the good eating and drinking of ordinary people, the tariff adjustment also involves many imported drugs. For example, alkaloids used for asthma treatment and zero tax are used to produce new drugs for diabetes treatment. In this regard, experts say that in recent years, the incidence of diabetes and asthma has been increasing, and the demand for drugs has been increasing. At this point, zero cost will be applied to pharmaceutical raw materials, and the cost of medication will continue to decrease.

While the people get tangible benefits, Chinese enterprises will also benefit from the tariff adjustment. In particular, the import of advanced equipment, key components and energy raw materials, which cannot be produced in China or whose performance can not meet the needs, will be appropriately lowered in 2020 to support the development of new and high technology industries.

Fan Yong, Professor of Finance and taxation, Central University of Finance and Economics: these imported raw materials and technologies are all more critical parts of the manufacturing sector. The reduction of tariff by temporary tax rate is obviously a great benefit to our economic growth mode of developing high quality.

In addition, in order to encourage imports of resource-based products, China will introduce a relatively low import provisional tax rate for more than 150 timber and paper products. In order to protect the safety of the ecological environment and the health of the people, and to adjust the time of import waste management catalogue, China will abolish the provisional tariff rate for the import of tungsten scrap and niobium scrap from January 1, 2020, and resume the MFN rate.

The notice indicates that China will continue to implement the agreement tax rate for 23 countries or regions in 2020. Among them, there are 12 further tax cuts, including China and New Zealand, Peru, Costa Rica, Switzerland, Iceland, Singapore, Australia, South Korea, Georgia, Chile, Pakistan FTA and the Asia Pacific Trade Agreement. Experts believe that the agreement tax rate will directly benefit both sides. The tariff adjustment will play a positive role in promoting the construction of "one belt and one road", constructing a high standard free trade area network and promoting a higher level of opening to the outside world.

Gao Lingyun, a researcher with the Institute of world economics and politics of the Chinese Academy of Social Sciences, this is our China as a responsible big country to fulfill its international commitments. With the improvement of our economic level and the enhancement of our technological level, we will continue to lower our tariff level. A kind of