According to an announcement by the Ministry of Finance, the import and export tariff rates of certain products will be revised with effect from 1 June 2007.

To encourage import, lower provisional tariffs will apply to 209 types of imported products. Among these, key parts and components such as positive displacement pumps, seals, parts for roller bearings and valves, compressors and parts for air-conditioning machines and refrigerators, parts for engineering machines, parts for cameras, parts for television sets, and lenses for video cameras, will be subject to provisional tariff rates of 2-6%. Certain products for daily use will also enjoy lower provisional import tariff rates of 6-17%. These mainly include baby food, kitchen utensils, tableware, food processors, corrective lenses, building materials, ornamental ceramic articles and household appliances.

Under this round of adjustment, the export tariffs of 142 types of products will be increased, among which the export tariff rates of more than 80 types of iron and steel products will go up by 5-10%. Meanwhile, the tariff rate for primary iron and steel products such as steel billets, steel ingots and pig iron on which export tariffs were imposed last year will be raised from 10% to 15%.

For details of the above tariff adjustment in Chinese, please visit: http://www.mof.gov.cn/news/20070522_2047_26505.htm or email for further translated English version.