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.