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Tariffs cut on some imports from January 1, including pork
Published on: 2019-12-24
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035China's decision to lower tariffs on a broad range of imported goods, including frozen pork and high-tech products, will satisfy domestic consumption and reduce production costs next year, experts said.

032On Monday, the Customs Tariff Commission of the State Council announced that tariffs on some imports will be reduced starting Jan 1. Temporary tariff rates, which are set for a specified period, will be applied to 859 items. Designated items will enjoy import tariffs lower than the existing most-favored-nation rates in 2020.
 

For imported frozen pork, the tariff rate will temporarily be reduced to 8 percent from 12 percent — a measure aimed at increasing pork supply and taming food price rises — the commission said.

031The spread of African swine fever since August 2018 has resulted in hog herds in China falling by 41.1 percent in September year-on-year, the Ministry of Agriculture and Rural Affairs said in October.
 

The reduced numbers led to soaring pork prices, which in turn fueled consumer inflation to 4.5 percent in November.
 

According to the customs tariff commission, the government will increase imports of food items to boost domestic consumption. The tariff rate for frozen avocados will be cut to 7 percent from the most-favored-nation duty of 30 percent, it said.

034Tariffs on some high-tech components, including semiconductor testing and sorting equipment and parts for automobile transmissions, will be temporarily cut to strengthen such sectors as integrated circuit, aerospace, automobile and telecommunication production, the statement added.

033Tariffs on some precursors used in the production of asthma and diabetes drugs will be cut to zero, down from 6.5 percent. Lower tariffs will also be placed on more than 150 types of wood and paper products, the commission said.

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