China to Adjust Import Tariff Rates on Some Products Next Year
The Customs Tariff Commission of the State Council issued a circular on December 23, 2020, saying that from January 1, 2021 China will adjust the most favored nation tariff rates, conventional tariff rates and provisional tariff rates for some import products.
From January 1, 2021 China will adopt provisional tariff rates on 883 import products, and rates are lower than the most favored nation tariff rates. Cancer drugs and materials for making rare disease medicines will be tax-free when they are imported to China; import tariffs on heart valve prosthesis and hearing aid will also be reduced. China will scrap provisional tariff rates on solid waste imports and resume the most favored nation tariff rates. From July 1, 2021 China will trim the most favored tariff rates on 176 information technology products.