BEIJING, Jan. 15 (China Economic Net) - “China has reduced, canceled import tariffs for 2021 and it would be win-win for China and related countries including its iron-clad brother Pakistan, ” noted Liu Baocheng, Dean of Center for International Business Ethics (CIBE), University of International Business and Economics(UIBE), China.
China adjusted import tariffs on a range of products starting from January 1, 2021 to support fostering the new development paradigm and promoting high-quality development, and lowered parts of conventional tariff rates and most-favored-nation rates in 2021, according to the Customs Tariff Commission of the State Council.
As per Liu Baocheng, since its accession to World Trade Organization, China has comprehensively fulfilled its commitments to WTO, substantially reducing import tariffs. By reducing import costs to boost trade, China has delivered mutually beneficial and win-win outcomes on a wider scale and has shared its development di
China to reduce tariffs on imported fuel cell-related parts
Monika From Gasgoo
| December 28 , 2020
Shanghai (Gasgoo)- China will lower tariffs on fuel cell-related components imported to the country in 2021, which will be a boon to the development of fuel cell vehicles (FCVs).
In 2021, the tariff levied on the imported fuel cell-related compressors, circulating pump and carbon electrode slice is set to be rated at 5%, 2% and 5%, falling from the most-favored-nation tariffs of 7%, 7% and 10%, according to a document the Customs Tariff Commission of the State Council issued earlier this month.
Aion LX FCV; photo credit: GAC Aion
The authority said it will put levies on a total of 883 imported items at temporary rates lower than the corresponding most-favored-nation tariff rates in 2021, in a bid to coordinate domestic and overseas market resources and improve the supply quality.
Beginning next year, the Government of China will marginally reduce sliding tariffs on cotton cargoes imported under additional quotas, the finance ministry said. Further,.
CHINA will adjust import tariffs on a range of products from January 1, 2021 to support fostering the new development paradigm and promoting high-quality development, according to the Customs Tariff Commission