China to cut tariff for keeping her promise at WTO

CHINA BUSINESS MONTHLY Starting from January 1,2002, China will put into practice all the promises it offered concerning reduction of customs duty for its WTO accession. It is going to cut the general tariff level of imported goods from the current 15.3 percent to 12 percent by the end of 2002. According to its duty under WTO, the Chinese government would lower the tariff rates of 5,300 items at different levels in 2002, accounting for 73 percent of the total items of tariffs. The average tariff rate of...