China will adjust the import tariffs of some goods from January 1 next year, what benefits will it bring?
China will adjust the import tariffs of some goods which bring a lot benefits.
New Policy
On the afternoon of December 23, the Tariff Commission of the State Council of China issued a notice on the adjustment plan of the provisional import tariff rate and other adjustments in 2021, which will adjust the most-favored-nation tariff rate, agreed tariff rate and provisional tariff rate of some imported commodities in 2021.
Starting from January 1, 2021, the import tariffs of some goods will be adjusted; the prices of some anti-cancer drugs, medical equipment and infant milk powder will be supported to decrease, and some imported equipment related to the development of new infrastructure and high-tech industries, as well as parts and components, will have more adequate protection.
This means that the price of imported dental equipment and dental materials will drop, and to a certain extent enhance the quality and technical level of production of local dental equipment and dental materials in China, which is a great news for foreign dental importers and dentists.
The tariff adjustment will bring the following benefits.
- It will be conducive to better attracting global resource elements, both to meet domestic demand and to enhance the level of industrial and technological development in China, and to promote the formation of a grand and smooth domestic economic cycle.
- It will be conducive to bringing into play the advantages of China’s mega-scale market, providing broader market opportunities for countries around the world, and creating new international cooperation and competitive advantages for China
- It is conducive to building a global-oriented network of high-standard free trade zones, better connecting the domestic market and the international market, better promoting the common development of China’s economy and the world economy, and promoting win-win cooperation.