Update: China to adjust import tariff rates, items on certain goods to expand domestic demand

BEIJING, Dec. 28 (Xinhua) — China will adjust the import tariff rates and items on certain goods starting from Jan. 1, 2025, in an effort to expand domestic demand and advance high-standard opening up, authorities announced Saturday.

Provisional import tariffs, lower than the most-favored-nation rates, will be applied to 935 commodities next year as part of the annual tariff adjustment plan. This plan “will help increase the imports of quality products,” according to a statement from the Customs Tariff Commission of the State Council.

This tariff reduction aligns with the need to foster new quality productive forces through scientific and technological innovation, enhance people’s well-being, and promote green and low-carbon development, the commission said.

Under 24 free trade and preferential trade arrangements, conventional tariff rates will be applied to certain products from 34 countries or regions next year as part of China’s efforts to expand its globally-oriented network of high-standard free trade areas.

Among these, lower tariffs under the China-Maldives free trade agreement, effective Jan. 1, 2025, will eventually lead to zero tariffs on nearly 96 percent of tariff lines between the two sides.

China will also continue to offer zero-tariff treatment on 100 percent of tariff lines next year to the 43 least developed countries with which it has diplomatic relations in a bid to support their development and foster mutual benefits, according to the commission.

It noted that specified tariff items will be introduced for products such as pure electric passenger vehicles to support industrial development and sci-tech advancement.