China will appropriately lower import tariffs on wool, wool tops, and cotton

This year, China will continue to fulfill its tariff reduction commitments to join the World Trade Organization to further reduce the import tariffs on five kinds of fresh strawberries and other commodities; it will continue to use seven kinds of agricultural products such as wheat, corn, rice and rice, sugar, wool, wool tops and cotton, and urea. Three kinds of chemical fertilizers, including compound fertilizer, diammonium phosphate, and diammonium hydrogen phosphate, are subject to tariff quota management, in which a certain amount of cotton is added to the tariff distribution and the quasi-sliding tax is continued. The tax rate remains unchanged; the urea, compound fertilizer, and diammonium phosphate are continued. Implement a 1% tentative quota tax rate. After adjustment, the average tax rate for agricultural products in China was 15.2%, and the average tax rate for industrial products was 8.9%.

Next year, China will implement a lower import tariff for more than 670 kinds of commodities and continue to implement the selection tax on imported natural rubber.

The relevant person in charge of the Ministry of Finance stated that in order to maintain the stable development of foreign trade, it is necessary to expand bilateral and multilateral economic and trade cooperation and promote regional economic development. In 2009, based on a series of free trade agreements and preferential tariff agreements signed with relevant countries and regions in the past, China will further implement treaty tax rates and preferential tax rates that are more preferential than MFN tax rates.

Continuing to abolish partial steel export tariffs In the implementation of active fiscal policies, next year a lower provisional tariff rate on imports of agricultural production materials, agricultural machinery and equipment and components will be implemented. The provisional tax rate for the import of soybean cakes, pork, and oyster sauce was cancelled, and it was restored to the most favored nation tax rate. At the same time, it continues to impose seasonal export tariffs on fertilizer exports and continues to impose special export tariffs on certain fertilizers and their raw materials such as compound fertilizers.

The provisional tariff rate for imports of certain key equipment and components that are temporarily unable to produce or whose technical and technical performance indicators cannot meet the needs, as well as key equipment and components that are conducive to the introduction and promotion of new technologies, will be implemented.

To ease the operational difficulties faced by the textile, steel, and fertilizer industries, China will appropriately lower import tariffs for some of its domestically-grown productive raw materials in 2009, and continue to implement the elimination of some steel export tariffs and adjustments starting from December 1, 2008. Urea and other fertilizers export seasonal tariff policy, while reducing the part of fertilizers and their raw materials, special export tariff rates.

In addition, the state has adjusted some of the tax items in the import and export tariffs. The total number of import and export taxes for 2009 in China has increased from 7,758 in 2008 to 7,868.