China Cuts Tariff Rate On Imports Of Some Products

Entering 2011, China promotes

The Customs Tariff Commission of the State Council issued a notice yesterday that the "import goods tax adjustment plan" has been approved by the State Council and implemented since January 27, 2011, and the tax rate of information technology products and cameras, such as computers and video camcorders, has decreased from 20% to 10%.

In fact, since the beginning of this year, China has introduced a number of policies in promoting the balance of payments.

On the import side, besides the above tariff policies, Chinese enterprises have signed many economic and trade orders with different countries and related enterprises by visiting state leaders.

Data show that over the past two months, China's leaders' overseas trade visits have exceeded 100 billion US dollars, and imports are relatively large.

China and the United States recently entered into the $60 billion economic and trade list, and Chinese enterprises imported as much as US $44 billion.

Since 2008, China's foreign trade policy has been defined as maintaining stable export growth while paying more attention to expanding imports.

The central economic work conference held at the end of last year clearly pointed out that in 2011, we should expand import scale and play an import role in macroeconomic balance and economic restructuring.

Obviously, "promoting exports" has become an important way to reduce trade surplus in China.

Zheng Yuesheng, director general of the General Statistics Department of the General Administration of customs, said recently that the growth rate of imports in China last year was 7 percentage points higher than that of the export growth.

He expects imports to increase substantially this year because the central government will take a series of measures to further expand imports.

For this year's "promotion mouth" policy, experts believe that the package policy is expected to continue.

Li Jian, a researcher at the Ministry of Commerce and international trade and Economic Cooperation Research Institute, said that lowering the import tariffs, increasing the interest input to the import of high-end technology and equipment, and facilitating imports will be the three direction of China's package of "promoting the export" policy.

In his view, the growth rate of imports and exports will remain between 10% and 20% this year.