China Adjusts Export Tax Rebates and Import Tariff
Beijing, China, December 7, 2006--China's government will adjust its export and import taxation policy, designed to reinforce the government's policy goals of improving the environment and moving towards a more advanced economy (in terms both of research and of local value added).
China also imposed tariffs on 110 export items, notably metallurgical commodities. Copper and nickel exports now face a tariff of 15%, while rare earth minerals as well as iron alloy, raw iron, steel billets and an assortment of other iron and steel products face a tariff of 10%, and coal, charcoal and crude oil face a tariff of 5%. Wooden products were also hit with tariffs: wooden flooring and disposable chopsticks now face a 10% tariff. Tariffs were cut on 58 imported goods, including machinery equipment and components, semiconductor modules, coal, oil, fertiliser and certain leather products.
