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China to end textile export tariff
www.chinanews.cn 2005-12-16 09:27:19
(Source: CRIENGLISH.com)
Dec.16 - Chinese Finance Minister Jin Renqing says China will stop
collecting export tariffs on textile goods, starting January 1st, 2006.
He said on Thursday that China has reached deals with the European Union
and the United States this year. Based on the deals, China should
self-control the volume of textile exports to the two regions.
He explained China will scrap export tariffs, otherwise, textile
enterprises would suffer more limits.
The export tariffs imposed this year were aimed at adjusting the pace of
textile exports, helping to maintain the world textile trade order and
promoting the sustainable development of the Chinese textile industry.
Meanwhile, Jin Renqing said China will further cut import tariffs on more
than 100 categories of products beginning next year, which implies China
is basically in accordance with tariff reduction commitments employed
since entry into the World Trade Organization in 2001.
Items to enjoy lower import tariffs from January 1st include oil,
chemicals, automobiles and auto parts.
He said since China has fulfilled most of its tariff reduction
obligations, the latest plan will not have a big impact on China's
overall tariff level. China's overall level of import tariffs will remain
at 9.9 percent in the coming year.
Jin Renqing added that China has reduced its average import tariff to
15.3 percent for farm produce and 9.0 percent for industrial goods since
2001, much lower than the world average level.
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