On 19 December 2016, the Customs Tariff Commission of the State Council issued the adjustments to the tariffs in 2017. The new plan comes into force on 1 January 2017. According to the plan, the number of items to be taxed in 2017 will reach 8,547. To meet domestic demand, tax rates will be lower on some imported commodities next year including hydraulic actuators for aircraft.
Imports tariff will also be reduced on commodities including tuna and arctic shrimp. Exports tariffs on commodities including nitrogen and phosphate fertilizers will be scrapped and commodities such as steel billet will see reduced export tariffs.
According to trade pacts, more imports from Macao and Hong Kong will be tariff-free next year, while some commodities from the Republic of Korea, Australia, Pakistan and New Zealand will see reduced tariffs.
