China will gradually reduce and eventually abolish tariffs on 201 information technology products

Twelve session of the twenty-second session of the NPC Standing Committee reviewed and approved the "People's Republic of China to join WTO Tariff Reduction Schedule amendment." From which, the country will begin gradually reduce and eventually eliminate tariffs when import 201 information technology products from WTO members recently.

These include information and communication products, semiconductors and manufacturing equipment, audio-visual products, medical equipment, instrumentation, etc., most of which the tariffs will be reduced to zero by 3 or 5 years, a small amount the tariffs will be reduced to zero through 7 years. In its deliberations, the Minister of Finance, the Customs Tariff Commission of the State Council Lou Jiwei desrcibed the basic situation of the amendment and the main contents.