China Will Adjust Import And Export Tariffs On Some Commodities From January 1

In order to implement the spirit of the Twentieth National Congress of the Communist Party of China and the decisions and arrangements of the Central Committee of the Communist Party of China and the State Council, give full play to the role of tariffs as a joint point of domestic and international double circulation, and help build a new development pattern and achieve high-quality development with high-level opening up, the Tariff Commission of the State Council issued an announcement with the approval of the State Council that import and export tariffs on some commodities will be adjusted in 2023.

In order to enhance the linkage effect between domestic and international markets and resources, China will implement temporary import tax rates lower than MFN tax rates on 1020 commodities from January 1, 2023. First, safeguard people's health, reduce the economic burden of patients, implement zero tariff on some anti-cancer drug raw materials, anti new coronavirus drug raw materials, cancer pain relief drugs, and reduce import tariffs on medical supplies such as dentures, vascular stent raw materials, contrast agents, etc. The second is to comply with the trend of consumption upgrading, meet the consumption demand of residents with high-quality supply, and reduce the import tariff of homogenized mixed food, frozen blue cod, cashew nuts and other food for infants, coffee machines, juicers, hair dryers and other small household appliances. The third is to strengthen the resource supply capacity, improve the toughness of the industrial chain supply chain, implement zero tariffs on potash fertilizer, unwrought cobalt, etc., and reduce import tariffs on some wood and paper products, boric acid and other commodities. Fourth, we will promote the innovative development of advanced manufacturing, accelerate industrial transformation and upgrading, and reduce import tariffs on lithium niobate, electronic ink screens, iridium oxide for fuel cells, roller bearings for wind turbines and other commodities.

From January 1, 2023, according to the development of domestic industries and changes in supply and demand, China will increase import and export tariffs on some goods within the scope of its commitment to join the World Trade Organization. Among them, the temporary import tax rate for chestnuts, liquorice and its products, large tires, sugarcane harvesters, etc. will be canceled, and the most favored nation tax rate will be resumed; In order to promote the transformation and upgrading of relevant industries and high-quality development, the export tariff of aluminum and aluminum alloy will be increased.

From July 1, 2023, China will also implement the eighth step of tax reduction for the most favored nation tax rate of 62 information technology products. After the adjustment, China's total tariff level will drop from 7.4% to 7.3%.

In order to expand the global network of high standard free trade zones, 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 between China and relevant countries or regions, in 2023, the agreed tariff rate will be applied to some commodities originating in 29 countries or regions under 19 agreements. According to the relevant provisions of the Regional Comprehensive Economic Partnership Agreement (RCEP) and the effectiveness of the agreement on Indonesia, from January 2, 2023, the RCEP tariff rate will be applied to some commodities originating in Indonesia.

In 2023, we will continue to apply preferential tax rates to the least developed countries that have established diplomatic relations with China and completed the exchange of documents, and support and help the least developed countries to accelerate their development.

In order to meet the needs of industrial development and scientific and technological progress, in 2023, China will appropriately adjust its sub items and add white tea, vegetable seeds, surgical robots, laser radar and other tax items. After adjustment, the total number of tax items is 8948.

The above adjustment measures adhere to the people as the center, fully, accurately and comprehensively implement the new development concept, coordinate development and security, support the construction of a new development pattern, and focus on promoting high-quality development, which is conducive to enhancing the endogenous power and reliability of the domestic big cycle, supporting the cross cycle design and counter cycle adjustment of macro policies, and promoting the overall improvement of economic operation; It is conducive to strengthening the guarantee of resource supply, accelerating the upgrading and development of the industrial system, and meeting the people's aspirations for a better life; It is conducive to promoting high-level opening up, forming new advantages in international cooperation and competition, and improving the quality and level of international circulation.