Youth And Money Essay

1496 WordsApr 27, 20126 Pages
CHINA Import Tariff China's foreign trade strategy is currently transforming away from its emphasis on exports and the attraction of foreign investment to a policy, which attaches equal importance to imports, and exports as well as attracting foreign investment and making investments abroad. From a strategic perspective, corresponding tariff policies are required to encourage imports and in 2011, China will implement a low annual provisional import tariff rate on more than 600 products related to resources, basic raw materials and key components. The country will also introduce incentive tariffs on imported high-tech products, advanced equipment for key industries, the environmental protection industry, and so on. This is not only an important method for promoting the development of foreign trade imports, but also one of the measures needed to bring about change in the foreign trade strategy model. Example: + Import tariff of textile rotary screen, flat screen-printing machine decreases from 8 percent in 2011 to 6 percent in 2012. The reduction of import tariff is undoubtedly a good measure for textile enterprises that will import equipment; with lowered import tariffs this year, enterprises can save about 100,000 Yuan of tariff, when they import a printing machine equipment, it will to a certain extent play a role in promoting textile enterprises to introduce advanced equipment and realize industrial structure upgrading and adjustment. (CCFG Group, 2012). + Lower tariffs will also be issued for imports that are considered by the government to improve the quality of consumption. Special infant formulas and skin care products; for example, will receive a tariff cut of 10 and 1.5 percent, respectively, to 10 and 5 percent. + Tariffs on luxury goods, on the other hand, are going to remain the same. Currently, the tariff rates on most medium-high-end

More about Youth And Money Essay

Open Document