From January 1,2024,the Customs Tariff Commission of the State Council of China will adjust the import tariffs on some commodities.According to the 2024 tariff adjustment plan,temporary import tax rates will be applied to 1,010 commodities,slightly lower than the number last year.These temporary import tax rates are usually lower than the most - favored - nation tax rates,aiming to encourage the import of relevant commodities,so as to improve domestic competitiveness,promote technological progress,ensure economic operation,and improve peoples livelihood.For example,infant formula milk powder will continue to enjoy a 5% temporary tax rate,which is significantly lower than the 15% most - favored - nation tax rate.

According to the 2024 tariff adjustment plan,1,010 items of goods will be subject to provisional import tariff rates,a slightly lower number than last year.These provisional import tariff rates are generally lower than the most-favored-nation tariff rates,aiming to encourage the import of relevant goods,thereby enhancing domestic competitiveness,promoting technological progress,ensuring economic operation,and improving people’s livelihood.For example,infant and toddler formula milk powder will continue to enjoy a provisional tariff rate of 5%,which is significantly lower than the most-favored-nation tariff rate of 15%.

In 2024,the import tariffs on sweet corn,coriander,and burdock seeds will also be reduced,and the export tariff on high - purity aluminum will be reduced to promote the development of the new material industry.According to the changes in domestic industrial development and supply - demand situations,the import tariffs on some commodities such as ethylene,propylene,and liquid crystal glass substrates below generation 6 will be increased next year.

In 2024,import tariffs on sweet corn,coriander,and burdock seeds will be further reduced,and export tariffs on high-purity aluminum will be lowered to promote the development of the new materials industry.Based on changes in domestic industrial development and supply-demand conditions,import tariffs on products such as ethylene,propylene,and LCD glass substrates of the sixth generation and below will be increased next year.

It is worth noting that the Economic Cooperation Framework Agreement (ECFA) between the Chinese mainland and Taiwan region has completed tariff reduction and will continue to implement the preferential tariff rate.However,for some imported products originating from the Taiwan region,such as propylene and p - xylene,they will no longer enjoy tariff reduction treatment.

Regarding preferential tariff rates,China will continue to grant zero - tariff treatment to 43 least - developed countries that have established diplomatic relations with China and completed the exchange of notes next year,implementing preferential tariff rates,and the scope of applicable commodities and tariff rates will remain unchanged.

In order to promote the better participation of Chinas competitive products in the international market,in 2024,domestic sub - headings will be appropriately adjusted,and tax items such as decorative base paper and high - end steel products will be added.These adjustment measures are conducive to supporting the stabilization of the basic foreign investment,better serving the overall economic and social development; promoting the continuous enhancement of endogenous driving force,better coordinating development and security; promoting high - level opening - up and building a new open - economy system; and promoting industry transformation and upgrading and actively participating in international market competition.

In order to promote Chinese advantageous products to better participate in international market competition,China will appropriately adjust its sub-items in 2024 and add tax items such as decorative base paper and high-end steel products.These adjustment measures are conducive to supporting the stability of the economy.China Adjusts Import and Export Tariff Policies in 2024 to Support Economic Development and High - level Opening - up | Shanghai Import/Export Agent