China will impose additional export duty and reduce
import duties on 142 low-end products in a bid to narrow
the country''s widening trade surplus.
finance ministry has announced five to 10 per cent export
tariffs on more than 80 steel products, including steel
wires, sheets and plates. The new duties will come into
effect from June 1.
ministry said China would raise export duties from 10
per cent to 15 per cent on primary commodities, including
steel billets, steel ingots and pig iron.
move would help rein in the growth of the high polluting
energy guzzlers and the export of resource products,
will lower import tariffs on 209 products on a temporary
basis, including raw materials and key component parts,
to encourage imports, the ministry said.
tariffs on coal and fuel oil will not exceed three per
cent, while tariffs on imported component parts for
televisions, refrigerators, and machineries will be
levied at between two and six per cent.
will also lower import duties on construction materials,
electronic appliances, kitchenware, and infant food
to between 6 and 17 per cent.
trade surplus in April more than doubled the figure
of March to $16.88 billion, damaging trade relations
with its major trading partners.