New policies take effect on Jan 1

China to adjust tariffs on some imported goods

China decided to adjust tariffs on some imported goods from Jan 1, the Customs Tariff Commission of the State Council announced on Dec 23.

Temporary tariff rates may apply to more than 850 items of imported goods, which will be lower than the most-favored-nation tax rates, to increase imports and optimize the import structure, the commission said in a statement on the website.

From July 1, 2020, China will cut the most-favored-nation tax rates for 176 items of information technology products, and adjust some products' temporary tariff rates accordingly, it said.