China will lower import tariffs on ethane and specific recycled copper and aluminum raw materials starting next year, as announced by the government on Saturday.
The Ministry of Finance revealed modifications to various import tariff categories, which will take effect on January 1. These changes are intended to enhance the importation of high-quality products, stimulate domestic demand, and facilitate a higher level of openness, according to the statement.
Provisional import tariffs below the most-favored-nation rates will be applied to 935 items, as stated by the ministry. The reduction in tariffs on ethane and certain recycled copper and aluminum raw materials is aimed at promoting green and low-carbon development.
Conversely, tariffs on commodities such as molasses and sugar-containing pre-mixed powders will see an increase, while reductions will occur for items like cyclic olefin polymers, ethylene-vinyl alcohol copolymers, and automatic transmissions for specialized vehicles, including fire trucks and repair vehicles.
Additionally, import tariffs will be lowered on products such as sodium zirconium cyclosilicate, viral vectors for CAR-T tumor therapy, and nickel-titanium alloy wires used in surgical implants.
The China-Maldives Free Trade Agreement will also take effect on January 1, implementing tariff reductions, as noted by the ministry.
