CHINA TO ADJUST ITS TARIFF SYSTEM
AsiaInfo Services, November, 2001
AsiaInfo Services 11-27-2001 China to Adjust Its Tariff System CHINA, Nov 27, 2001 (AsiaPort via COMTEX) -- According to Mou Xinsheng, the Director with the General Administration of Customs, China's tariff system is to be adjusted from 3 aspects, now that the country has been accepted by the World Trade Organization (WTO). 1, China will fulfill its commitment to gradually reduce the tariff rate. It is expected that by 2005, China's tariff rate will be reduced to be under the average level of developing countries in the world.
Meanwhile, the average imports tariff rate of industry products is to be reduced to about 10 per cent. 2, China will fully implement the WTO Customs Price Evaluation Agreement. As far as laws constitution is concerned, China has...
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