China to modify import tariffs and item list for certain goods starting January 1
Starting January 1, 2025, China will alter the import tariff rates and associated items on specific goods as part of its initiative to expand domestic demand and promote a high-standard opening up, authorities announced on Saturday.
TroibNews 
China will revise the import tariff rates and categories for specific goods starting January 1, 2025, as part of its initiative to boost domestic demand and promote a high-standard opening of its economy, authorities announced on Saturday.
As part of the annual tariff adjustment plan, provisional import tariffs that are lower than the most-favored-nation rates will be applied to 935 commodities next year. This strategy "will help increase the imports of quality products," the Customs Tariff Commission of the State Council stated.
The reduction in tariffs is designed to encourage the growth of new quality productive forces through science and technology innovation, improve the well-being of citizens, and support green and low-carbon development, according to the commission.
In line with this initiative, conventional tariff rates will be imposed on certain products from 34 countries or regions next year under 24 free trade and preferential trade agreements, further expanding China's global network of high-standard free trade areas.
Significantly, tariffs will be reduced under the China-Maldives free trade agreement, which takes effect on January 1, 2025, eventually resulting in zero tariffs on nearly 96 percent of tariff lines between the two nations.
Moreover, China plans to maintain zero-tariff treatment across 100 percent of tariff lines for the 43 least developed countries with which it has diplomatic ties next year, aiming to support their development and encourage mutual benefits, as highlighted by the commission.
Additionally, specific tariff categories will be introduced for products such as pure electric passenger vehicles to bolster industrial growth and scientific advancements.
Emily Johnson contributed to this report for TROIB News
As part of the annual tariff adjustment plan, provisional import tariffs that are lower than the most-favored-nation rates will be applied to 935 commodities next year. This strategy "will help increase the imports of quality products," the Customs Tariff Commission of the State Council stated.
The reduction in tariffs is designed to encourage the growth of new quality productive forces through science and technology innovation, improve the well-being of citizens, and support green and low-carbon development, according to the commission.
In line with this initiative, conventional tariff rates will be imposed on certain products from 34 countries or regions next year under 24 free trade and preferential trade agreements, further expanding China's global network of high-standard free trade areas.
Significantly, tariffs will be reduced under the China-Maldives free trade agreement, which takes effect on January 1, 2025, eventually resulting in zero tariffs on nearly 96 percent of tariff lines between the two nations.
Moreover, China plans to maintain zero-tariff treatment across 100 percent of tariff lines for the 43 least developed countries with which it has diplomatic ties next year, aiming to support their development and encourage mutual benefits, as highlighted by the commission.
Additionally, specific tariff categories will be introduced for products such as pure electric passenger vehicles to bolster industrial growth and scientific advancements.
Emily Johnson contributed to this report for TROIB News
