China's Auto Import Tariffs Downgraded to World Trade Commitments


(Reporter Zhao Peng) Yesterday, the Ministry of Finance released the news that from July 1, China will further reduce the import tariff rates on some auto parts and components, based on the tariff reduction promise of joining the World Trade Organization. Among them, the import tax rate for cars, off-road vehicles, and minibuses fell from 28% to 25%, and the import tax rates for auto parts such as bodywork, chassis, and low- and medium-displacement gasoline engines fell from 13.8% to 16.4% to 10%.

According to briefings, after the reduction of tariffs, China's WTO commitments for tax reduction of automobiles and auto parts have been completed.

The Ministry of Finance’s press office also revealed that starting from July 1, according to the relevant agreement of the China-ASEAN Free Trade Area, China will also impose tax reductions on more than 2,800 taxable goods originating in the Philippines. In order to promote international cooperation and development, and help developing countries, especially the least developed countries, to accelerate their development, zero-tariffs are applied to some commodities originating in the five LDCs in Angola, Yemen, Maldives, Samoa and Vanuatu. In addition, according to the supplemental agreement between the Mainland and Hong Kong and Macau to establish a closer economic and trade relationship arrangement, zero tariffs are also applied to the fourth batch of commodities originating in Hong Kong and Macao and completing the certification of origin standards.



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