Members are invited to note that the Ministry of Finance has announced changes in Mainland’s import and exprot tariffs on a number of products to be effective from 1 June 2007. The major changes are as follows:
1. The export tariffs on 142 products will be increased:- the duty rates of 80 kinds of steel products will be increased by 5-10 percentage points, whereas those of raw iron will be increased by five percentage points;
2. The import tariffs on 209 products will be decreased:- the duty rates on water pumps, sealing elements, bearings, valves, compressors used in air-conditioners and refrigerators, mechanic engineering parts, camera and television parts, and video-camera lens will be tentatively reduced to 2-6%;
3. The import tariff on various consumer goods will be lowered: - the provisional duty rates on baby food, kitchen ware, tableware, food processors, eyesight correction lens, building materials, ceramics and home appliances will be set at 6-17%.
Details of the changes can be found at: www.mof.gov.cn/news/20070521_1500_26483.htm
