China outlines import and export tariff policies for 2009
Interfax China reported that Shanghai China will make minor adjustments to import and export tariffs in 2009 while maintaining its World Trade Organization commitments.
The Ministry of Finance said that as part of its annual outline of import and export tariff policies for the year to come.
The MoF said that China will maintain its low import tariffs on over 670 products including energy products such as coal, fuel oil and selected spare machinery parts. Low import tariffs for raw materials will enable China's textile, steel and fertilizer industries to better weather the global economic downturn.
In the meantime, China will continue to rein in exports of some high energy consumption products such as coke and iron alloy by leaving export duties at their current level. After the planned adjustments are made China's average import and export tariff rate for 2009 will remain at its 2008 level of 9.8% compared to 15.3% when China first joined the WTO in December 2001. Under the revised policy the average tariff rate for agricultural products will be 15.2% while that for industrial products will stand at 8.9%.
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