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Original title: Improving the quality of life and supporting industrial development Source: People’s Daily
Import tariffs on some commodities will be adjusted from January 1 of next year.
Improve quality of life and support industrial development (policy interpretation)
Approved by the State Council, the State Council’s Customs Tariff Commission recently issued a notice stating that the most-favored-nation tax rate, the agreed-upon tax rate, and the provisional tax rate on some imported goods will be adjusted. in 2021. What are the highlights of this rate adjustment? The reporter conducted an interview.
Starting January 1, 2021, China will impose temporary import duty rates on 883 items that are lower than the most-favored-nation duty rates.
Among them, in order to reduce the economic burden on patients and improve people’s quality of life, zero tariffs will be imposed on the second batch of cancer drugs and food needed for special children, and medical equipment such as artificial heart valves and hearing aids, as well as whey protein powder and lactofer. Import duties on raw materials for powdered infant milk, such as protein.
“Some of the products included in this adjustment are directly related to people’s lives, such as pharmaceutical raw materials, milk powder raw materials, etc., after the tax rate adjustment leads to lower price of the final product, thus reducing the economic burden on people. ” WTO Research Institute of China University of International Business and Economics Dean Tu Xinquan said.
Properly reduce import duties on advanced technology equipment, parts and raw materials.
Another positive aspect of the tentative tariff rate adjustment is the appropriate reduction of import duties on advanced technology equipment, parts and raw materials.
According to reports, to meet the needs of domestic production, import tariffs are reduced on some equipment, parts and raw materials required for new infrastructure or high-tech industries, such as fuel cell circulation pumps, aluminum substrates and silicon carbide and arsine. In order to promote international technical cooperation in the field of aviation, a lower provisional import tax rate is applied to aviation equipment, such as fuel pumps for aircraft engines.
“Currently, the domestic R&D of equipment and parts required by some high-tech industries is still in its infancy and cannot meet the needs of industrial development. Lowering import tariffs will help reduce manufacturing production costs. and will promote high-quality economic development, “said Tu Xinquan.
In terms of environmental protection, in order to improve air quality, support the production of green products, and reduce import tariffs on commodities such as diesel engine exhaust gas filtration and purification devices and recirculation valves. exhaust gas. In order to encourage the importation of domestic resource products that are in demand, the provisional import tax rate for commodities such as wood and paper products, unalloyed nickel and raw niobium will be lowered.
According to the development of domestic industries and changes in supply and demand, the temporary import tariff rate implemented in 2020 will be adjusted appropriately. To implement the Law for the Prevention and Control of Environmental Pollution by Solid Waste, as of January 1, 2021, the provisional tax rate for the importation of solid waste such as scrap metal and metal waste will be canceled, and the national rate will be restored. most favored.
Implement treaty tax rates for some products that originate from relevant countries or regions.
In accordance with the free trade agreements or preferential trade agreements signed and in force between China and the relevant countries or regions, in 2021 China will implement agreed tariff rates on some imported products originating from relevant countries or regions.
Among them, the China-Mauritius Free Trade Agreement will enter into force on January 1, 2021 and implement tax cuts. Other tax cuts include the China-New Zealand Free Trade Agreement, Peru, Costa Rica, Switzerland, Iceland, Pakistan, Chile, Australia, South Korea, Georgia, and the Asia-Pacific Trade Agreement. Some imported goods originating in Mongolia will be subject to the Asia-Pacific Trade Agreement tariff rate from January 1, 2021. In 2021, we will continue to implement preferential tax rates for 43 least developed countries that have established diplomatic relations with China and completed the exchange of letters. The scope of preferential tax rates and tax rates will remain unchanged.
Starting on July 1, 2021, China will also implement the sixth step of reducing taxes on the most-favored-nation tax rate of 176 information technology products. It is also worth noting that to meet the needs of industrial development and technological progress, facilitate business management and statistics, and at the same time standardize the implementation of the “Commodity Naming and Coding System”, some tariffs and Tax items will be adjusted in 2021. The total number of tax items after adjustment is 8,580.
Huang Peng, chairman of the Shanghai WTO Affairs Advisory Center, believes that the above adjustment measures lead to better attracting global resource elements, not only meeting domestic demand, but also improving the level of development of industrial technology. of China and promoting the formation of a large and fluid internal economic cycle.
Our reporter Wang Guan
【Edit: Tian Boqun】
