BEIJING: China will adjust its import and export taxes from Jan. 1 as part of bigger efforts to re-order its trade sector and foster economic growth, the Finance Ministry said on Tuesday.
To refine the mix of Chinese imports, China will levy provisional taxes lower than that reserved for countries under the Most Favoured Nation category, a status given to some nations to ensure that they enjoy lower tariffs.
Imports for which taxes will be lowered include optical communication devices, advanced manufacturing equipment and electric car parts.
No details were given about the level of taxes after the revision.
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