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    From January 1, 2021, China Will Adjust The Import Tariff Of Some Commodities

    2020/12/24 11:09:00 2

    ImportTariffAdjustment

    In order to implement the spirit of the Fifth Plenary Session of the 19th Central Committee of the Communist Party of China, adhere to the new development concept, and support the construction of a new development pattern with domestic circulation as the main body and domestic and international dual circulation promoting each other, with the approval of the State Council, the Tariff Commission of the State Council recently issued a notice that the most favored nation tax rate, negotiated tax rate and provisional tax rate of some imported commodities will be adjusted in 2021.

    In order to make overall use of domestic and international markets and resources, continuously improve the quality and level of supply, and promote a virtuous circle of national economy, China will implement a provisional import tariff rate lower than the MFN rate on 883 commodities from January 1, 2021. Among them, in order to reduce the economic burden of patients and improve the quality of life of the people, zero tariff has been implemented on the second batch of anti-cancer drugs and rare disease drugs, food for special children, and the import tariff of medical equipment such as artificial heart valve, hearing aid and infant milk powder such as whey protein powder and lactoferrin. In order to meet the needs of domestic production, the import tariff of some equipment, parts and raw materials required by new infrastructure or high-tech industries, such as fuel cell circulating pump, aluminum silicon carbide substrate and arsenane, will be reduced. In order to promote international technical cooperation in the aviation field, a lower provisional import tax rate is applied to aviation equipment such as fuel pumps for aircraft engines. In order to improve the air quality, support the production of environmental protection products, reduce the import tariff of diesel engine exhaust filter and purification device, exhaust gas recirculation valve and other commodities. In order to encourage the import of resource products with domestic demand, the provisional import tax rates for wood and paper products, non alloy nickel and non Forged Rolled niobium will be reduced, and the sliding standard tax on cotton will be appropriately reduced.

    At the same time, according to the development of domestic industry and the changes of supply and demand, the provisional import tax rate implemented in 2020 should be adjusted appropriately. In order to implement the law of the people's Republic of China on the prevention and control of environmental pollution by solid wastes, the provisional import tax rate of solid wastes such as metal wastes and crushed materials will be cancelled and the most favored nation tax rate will be resumed from January 1, 2021.

    In order to promote the high-quality development of the "belt and road" and realize high-quality import and high-level going out, according to the free trade agreements or preferential trade arrangements signed and effective between China and relevant countries or regions, China will implement the tariff rate of some imported goods originated from relevant countries or regions in 2021. Among them, the free trade agreement between China and Mauritius will come into effect on January 1, 2021 and implement tax reduction. Further tax reductions include China's FTA with New Zealand, Peru, Costa Rica, Switzerland, Iceland, Pakistan, Chile, Australia, South Korea, Georgia and the Asia Pacific Trade Agreement. Some imported goods originating in Mongolia will be subject to the tariff rate of the Asia Pacific trade agreement from January 1, 2021. In 2021, we will continue to implement preferential tax rates on 43 least developed countries that have established diplomatic relations with China and completed the exchange of documents procedures. The scope of goods and tax rates applicable to the preferential tax rates will remain unchanged.

    From July 1, 2021, China will also implement the sixth step of reducing the most favored nation tax rate of 176 information technology products.

    In order to meet the needs of industrial development and scientific and technological progress, facilitate trade management and statistics, and standardize the implementation of the "commodity name and coding coordination system", some tax items were adjusted in 2021. After the adjustment, the total number of tax items is 8580.

    The above-mentioned adjustment measures are conducive to better attracting global resource elements, not only meeting domestic demand, but also improving China's industrial and technological development level, and promoting the formation of a grand and smooth domestic economic cycle; it is conducive to giving full play to China's super large-scale market advantages, providing more broad market opportunities for all countries in the world, and creating China's new international cooperation and competitive advantages; it is also conducive to building a market-oriented environment The global high standard free trade area network can better connect the domestic and international markets, better promote the common development of China's economy and the world economy, and promote win-win cooperation.

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