China to remove or lower tariffs on goods including food, medicines, information technology

 

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China will reduce or remove tariffs on certain imported goods and materials starting in 2021 in an effort to expand imports, boost the domestic market and support the formation of high-standard free trade areas under the country's new "dual-circulation" strategy, according to the Ministry of Finance.

The new interim tariff rates on imports, which will be lower than Most Favored Nation (MFN) tariff rates, will apply to 883 kinds of goods, starting from January 1, including foods, medicines and information technology products, the Office of the Customs Tariff Commission of the State Council, which . . .

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