Continue to play the supporting role of import and export on the economy from January 1, 2024, China will adjust the import and export tariffs on some commodities
In order to continue to play the supporting role of import and export to the economy, and better perform the important function of tariffs in coordinating the two resources in the domestic and international markets, after the first plenary meeting of the eighth session of the Customs Tariff Commission of The State Council deliberated and passed, and reported to The State Council for approval, the Customs Tariff Commission of The State Council issued an announcement that the import and export tariffs of some commodities will be adjusted in 2024.
In order to enhance the linkage effect of two resources in both domestic and international markets and maintain the stability and smooth supply chain of China's industrial chain, from January 1, 2024, China will implement a provisional import tax rate lower than the most-favoured nation tax rate on 1010 goods. First, accelerate the innovation and development of advanced manufacturing, and reduce the import tariffs on domestic shortages of resources, key equipment and components such as lithium chloride, low-arsenic fluorite, and gas diffusion layers for fuel cells. The second is to protect people's lives and health, meet consumer demand with high-quality supplies, implement zero tariffs on some drugs and raw materials for anti-cancer drugs and rare disease drugs, and reduce import tariffs on formula food for special medical purposes. The third is to reduce import tariffs on sweet corn, coriander and burdock seeds. In addition, in order to promote the development of new materials industry, the export tariff on high-purity aluminum will be reduced.
From January 1, 2024, according to the development of domestic industries and changes in supply and demand, within the scope of China's accession to the World Trade Organization commitments, the import tariffs on some commodities such as ethylene, propylene, and liquid crystal glass substrates below 6 generations will be increased.
In order to expand the network of high-standard free trade zones for the world, continue to promote high-level opening up, and promote the construction of an open world economy, in accordance with the free trade agreements and preferential trade arrangements signed by China and relevant countries or regions, some commodities under 20 agreements and originating in 30 countries or regions will be subject to agreement tax rates in 2024. The China-Nicaragua Free Trade Agreement will come into force on January 1, 2024 and implement tax reductions.
To support and assist the least developed countries

2023-12-22