China's new tariffs aim at saving energy, curbing trade surplus

Singapore (Platts)--31Oct2006

Effective November 1, China will make sweeping adjustments to the tariffs
imposed on a large number of imported and exported products--including the
imposition of 5% export tariffs on crude oil, coal and coal-based coke, the
Chinese Ministry of Finance said in an announcement October 27.
According to the ministry, the main objective of the adjustments is to
encourage the import of--and discourage the export of--products high in
natural resources, and to control products responsible for high energy
consumption and/or pollution.
The adjustments also aim at curbing China's trade surplus, boosting
energy efficiency and keeping manufacturers away from energy-intensive
sectors.
Lower tariffs will be imposed for 58 imported products, including
chemical fertilizers, technologically innovative devices and energy saving
equipment and spare parts.
On the other end of the spectrum, tariffs on 110 exported
products--primarily those containing high levels of natural resources--will be
increased.
A detailed product list in Chinese can be found on the finance ministry's
official website: http://www.mof.gov.cn/news/20061027_1500_20298.htm.
--staff, newsdesk@platts.com

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