China will lower tariffs on some imported goods and streamline customs clearance to make the procedure faster. These are among the measures to be rolled out to expand opening up and foster a more enabling environment for foreign trade and investment.
An executive meeting of the State Council, China’s cabinet, held on September 26, approved these and other measures. From November 1, import tariffs on 1,585 items will be slashed. By November 1, the number of customs clearance documents subject to verification at ports will be reduced from 86 to 48.
The average tariff rate for products in high demand in domestic markets such as machinery and industrial instruments will be cut from 12.2 percent to 8.8 percent, textile and construction materials from 11.5