China to Lower Import Tariffs for Commodities
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(Beijing) – In an effort to boost domestic consumption, the Chinese government said it will keep tariffs low next year for commodities in wide-ranging fields.
According to a recent notification by the Ministry of Finance, the State Council's tariff committee has finalized next year's tariff scheme, lowering the duties for 730-odd imported commodities to an average of 4.4 percent, which more than halves the rate enjoyed by Most Favored Nation status under World Trade Organization rules.
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