Tariff cuts fresh proof of opening-up
China DailyAn aerial view of Beibu Gulf Port in Qinzhou, Guangxi Zhuang autonomous region. Reductions cover various sectors and are aimed at boosting trade ties China's new round of reductions in import tariffs, announced on Thursday, highlights the country's commitment to further open up its economy and promote international trade cooperation, officials and experts said. Import tariffs on key resources, equipment and components that are domestically scarce, like gas diffusion layers, will be lowered to facilitate the development of the country's advanced manufacturing industries, the commission said. Additionally, import tariffs on foods for special medical purposes and other related products will be reduced, the commission said, adding it will better safeguard people's health with high-quality supplies. The tariff adjustments are a crucial component of China's efforts to build a global high-standard free trade network and facilitate a more seamless flow of goods and investments, promoting shared development globally, Gao said.
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