China makes adjustments on tariff items

BEIJING - China's Ministry of Finance (MOF) will adjust tariffs on a number of exports and imports.

The new plan comes into force on Jan 1, according to the MOF website.

To meet domestic demand, tax rates will be lower on some imported commodities next year including hydraulic actuators for aircraft.

Imports tariff will also be reduced on commodities including tuna and arctic shrimp.

Exports tariffs on commodities including nitrogen and phosphate fertilizers will be scrapped and commodities such as steel billet will see reduced export tariffs.

In line with trade pacts, more imports from Hong Kong and Macao will be tariff-free next year, while some commodities from countries including the Republic of Korea, Australia, Pakistan and New Zealand will see reduced tariffs.

The number of items to be taxed in 2017 will reach 8,547, said the plan.