China adjusted import and export tariffs on some commodities since 1st January

China adjusted import and export tariffs on some commodities since 1^st January

From January 1, 2023, China will impose provisional import tariff rates lower than the most-favored-nation rate on 1,020 items. First, to protect people's health and reduce the economic burden on patients, zero tariffs will be imposed on some raw materials for anti-cancer drugs, anti-novel coronavirus drugs and anti-cancer pain drugs, and import tariffs will be lowered on medical supplies such as dentures, raw materials for vascular stents and contrast agents. Second, in line with the trend of consumption upgrading, we will meet consumer demand with high-quality supplies, and reduce import tariffs on homogenized mixed food, frozen blue cod, cashew nuts and other food for infants and young children, as well as small household appliances such as coffee machines, juicers and hair dryers. Third, we will strengthen resource supply capacity, improve the resilience of industrial and supply chains, implement zero tariffs on potash fertilizer and unwrought cobalt, and reduce import tariffs on some wood, paper products, boric acid and other goods. Fourth, we will promote innovative development of advanced manufacturing, accelerate industrial transformation and upgrading, and lower import tariffs on lithium niobate, electronic ink screens, iridium oxide for fuel cells, roller bearings for wind turbines, and other products.

Starting from January 1, 2023, China will raise import and export tariffs on certain commodities within the scope of its WTO commitments in light of the development of domestic industries and changes in supply and demand. Among them, the temporary tariff rate on imports of chestnuts, licorice and their products, large tires and sugarcane harvesters will be abolished and the most-favorednation tariff rate will be restored. To promote the transformation, upgrading and high-quality development of related industries, the export tariff on aluminum and aluminum alloys will be increased.

Feeder operators in South China have announced that they will suspend branch line services from late December 2022 to the end of January 2023, according to a notice on the website of Hebleot. This is a precautionary measure as there are quarantine requirements for sailors sailing between South China and Hong Kong after the 2023 Spring Festival holiday. In view of the situation, the company said it would suspend shipments with final destinations in the Pearl River Delta region and Fuzhou region until further notice. However, trunk freight services to major ports such as Hong Kong, Yantian or Shekou will continue.

CMA CGM also issued a customer notice, saying that due to quarantine requirements for crew members before the 2023 Spring Festival, feeder operators in South China and Hong Kong have announced the suspension of branch line services from Jan 1 to Jan 31, 2023. As a result, CMA said it would restrict the routes of cargo bound for some southern China ports.

Shenzhen Xunlaitong specializes in shipping export from Shenzhen to Australia & New Zealand, Germany, Netherlands and more business

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