From January 1st, China adjusted the import and export tariffs of some commodities!

In order to continue to play the supporting role of import and export in the economy and better fulfill the important function of tariffs in coordinating domestic and international markets and resources, on December 21st, the Customs Tariff Commission of the State Council announced that the import and export tariffs of some commodities will be adjusted in 2024.

According to the announcement, from January 1,2024, China will implement a provisional import tax rate lower than the MFN tax rate for 1,010 commodities. 

Specifically, in order to accelerate the innovation and development of advanced manufacturing industry, the import tariffs on domestic scarce resources, key equipment and parts such as lithium chloride, low arsenic fluorite and gas diffusion layer for fuel cells are reduced.

In order to protect people's lives and health and meet residents' consumption demand with high-quality supply, zero tariffs are implemented on some anticancer drugs, medicines and raw materials for rare diseases, and import tariffs on formula foods for special medical purposes are reduced.

Reducing import tariffs on sweet corn, coriander and burdock seeds. These three seeds are currently under domestic production capacity and need to be imported. Reducing tariffs will help ensure the supply of seed industry in China and promote the healthy and stable development of agriculture in China.

In addition to the provisional import tax rate, China will also implement the agreed tax rate on some commodities in 2024. According to the free trade agreements and preferential trade arrangements signed between China and relevant countries or regions, the agreed tax rate will be implemented on some commodities originating from 30 countries or regions under 20 agreements in 2024. The China-Nicaragua Free Trade Agreement will take effect on January 1,2024 and implement tax reduction. 

1月1日起我国调整部分商品进出口关税！

       为继续发挥进出口对经济的支撑作用，更好履行关税在统筹国内国际两个市场两种资源中的重要职能，12月21日，国务院关税税则委员会发布公告，2024年将调整部分商品的进出口关税。

       根据公告，2024年1月1日起，我国将对1010项商品实施低于最惠国税率的进口暂定税率。

       具体来看，为了加快推进先进制造业创新发展，降低氯化锂、低砷萤石、燃料电池用气体扩散层等国内短缺的资源、关键设备和零部件的进口关税。

       为了保障人民生命健康，以高质量供给满足居民消费需求，对部分抗癌药、罕见病的药品和原料等实施零关税，降低特殊医学用途配方食品等的进口关税。

       降低甜玉米、芫荽、牛蒡种子的进口关税。这三种种子目前国内生产能力不足，尚需进口。降低关税有助于保障我国种业供给，促进我国农业健康稳定发展。

       除了进口暂定税率外，2024年，我国还将对部分商品实施协定税率。根据我国与有关国家或者地区签署的自由贸易协定和优惠贸易安排，2024年将对20个协定项下、原产于30个国家或者地区的部分商品实施协定税率。中国一尼加拉瓜自由贸易协定自2024年1月1日起生效并实施降税。