Jin Renqing, Minister of Finance said on Jun 27 that general level of China’s tariff decreased from 10.4% to 9.9%.

While making 2005 Central Budget Report on the 22nd meeting of Standing Committee of the 10th National People´s Congress on Jun 27, Jin Renqing said that China adjusted policy of import and export tariff. Average tariff of agricultural products decreased from 15.6% to 15.3% and industrial products decreased form 9.5% to 9%. Meanwhile, according to relevant tariff treaty, China implement agreed tariff to ASEAN, HK, Macao and other countries and implement preferential tariff to certain undeveloped countries.

Jin Renqing said, China further adjusts tariff policy since this year and decreased tax rate of over 100 products, such as vegetable oil and implements provisional tax rate for 264 imports and 67 exports. Since Apr 10, 2006, provisional tariff of fine copper and copper alloy export changes from 5% to 10%, provisional tariff of copper material export changes from 0% to 10%, in order to further control export products with high-energy consuming, high pollution and resource.