China to cut tariffs on ethane, recycled metals

China will lower import tariffs on ethane and specific recycled copper and aluminum raw materials starting next year, the government announced on Saturday.

The Ministry of Finance announced the changes to import tariffs effective Jan. 1 to boost high-quality imports, expand domestic demand, and promote high-level opening-up.

Import tariffs on 935 items will be reduced below the most-favoured-nation rates, including ethane, recycled copper, and aluminium raw materials to promote green and low-carbon development.

Tariffs will rise on molasses and sugar-containing pre-mixed powders, but will ease on cyclic olefin polymers, ethylene-vinyl alcohol copolymers, and automatic transmissions for special-purpose vehicles like fire trucks and repair vehicles.

Import tariffs will also be decreased on products like sodium zirconium cyclosilicate, viral vectors for CAR-T tumour therapy, and nickel-titanium alloy wires for surgical implants.

Attribution: Reuters

Subediting: Y.Yasser