05 February 2007

China reduces tariffs to an average 9.8%

China has reduced its average tariff level to 9.8% as of 2007, ranging from a 15.2% average tariff for agricultural products and 8.95% for industrial products, according to China Customs Tariff Commission of the State Council. In addition, 1,600 eight-digit tariff items have been changed in the regulations (about 20% of the total eight-digit tariff items). These include mechanic and electric products, chemicals, textile, wooden products, base metal and alloy. This is the largest change in China’s tariff regulation over the last ten years. As a result of the changes, the number of tariff items has risen from 7,605 to 7,646.