Promote High-quality Development Of Trade

- Dec 23, 2019-

In order to promote the high-quality development of the “Belt and Road”, build a global network of high-standard free trade zones, and implement a mutually beneficial and win-win open strategy, according to the free trade agreements or preferential trade arrangements signed by China and relevant countries or regions, 2020 China will continue to implement the agreed tax rates on some commodities originating in 23 countries or regions. Among them, China and New Zealand, Peru, Costa Rica, Switzerland, Iceland, Singapore, Australia, South Korea, Georgia, Chile, Pakistan and the Asia-Pacific Trade Agreement have further reduced taxes. In 2020, continue to implement preferential tax rates for the least developed countries that have established diplomatic relations with China and completed exchange procedures, and adjust the applicable countries of preferential tax rates based on the list of the United Nations least developed countries and China's transitional arrangements.

The Office of the Customs Tariff Commission of the State Council stated that the above-mentioned adjustment measures are conducive to reducing import costs, promoting the orderly and free flow of international and domestic factors, and promoting the establishment of a new system of a higher level of open economy; Accelerate the construction of high-standard free trade zones; it is conducive to sharing development results with other countries and regions, and creating a new situation in international trade that is open to cooperation, inclusive and inclusive, and sharing a win-win situation.