[Ferro-Alloys.com] China will adjust some of its customs duties from Jan 1, 2015 in order to support the industry upgrading, promote the growth methods of trade development and advance the economic restructuring, the Ministry of Finance said on Dec 15th, 2015.

In 2015, China will implement temporary import tariff which is lower than most favored nation tariff rate on some of the commodities in order to optimize the import structure.

In 2015, China will still implement the management of Import Tariff Quota on 7 kinds of agricultural products and 3 kinds of fertilizer. Besides, China also imposes 1% of temporary quota tariff rate on the fertilizers.

In 2015, China will still impose export tariff on some commodities such as coal, crude oil, fertilizer and ferroalloys. The fertilizer export tariff will be adjusted according to the demand and supply situation changes and the coal export tariff rate will be lowered down.

New tariff items will be added in accordance with the adjustment of industrial structure, Trade structure optimization and the advancement of export administration, China. This will raise the total number of China's import-export tariff items from 8,277 in 2014 to 8,285 in 2015. 

The detailed schemes of import and export tariff in 2015 will be released later, please pay attention to www.ferro-alloys.com

• [Editor:Yueleilei]