China will adjust some of its customs duties on January 1st, 2014 to aid economic restructuring and achieve balanced trade growth, the Ministry of Finance said on Wednesday (Dec. 11th).
Tariffs on some 760 imported commodities will be lowered by an average of 60 percent, the ministry said.
The commodities range from devices for emerging industries such as aero-engines to natural grass and audio life detection instruments.
New tariff items will be added and duties will be levied on products like 3D printers, welding robots and crystal. This will raise the total number of China's import-export tariff items from 8,238 in 2013 to 8,277 in 2014.
As a response to the call for ecological development outlined in Nov's reform package, Interim export tariffs on products such as coal, crude oil, fertilizer and ferroalloy will stay, but the export tariff rate for fertilizer has been cut down, the ministry said.