China changes fuel import tariffs
- The Chinese government has raised the import tariff on fuel
oil and jet fuel by 1% each for 2010. This means tariffs for
fuel oil will be raised to 3% with jet fuel to 6%. China has
already levied a consumption tax on oil because the production
cost of the country's fuel importers will rise. The nation will
also make cuts to certain import tariffs to meet its World Trade
Organization (WTO) commitment. China has kept import duties for
naphtha, a feedstock for petrochemicals, at 1% for next year.
And the change in tariffs does not cover main transportation
fuel petrol and diesel, with a duty of 1% since 2008 versus 5-6%
previously. (7 December 2009)
China bans import,
export of ractopamine
(Dec. 8, 2009 (Xinhua)
China is to ban both import and export of ractopamine and ractopamine
hydrochloride, the country's Ministry of Commerce and the General
Administration of Customs announced Tuesday.
The ban is to take effect on Wednesday.
Ractopamine and ractopamine hydrochloride are stimulant drugs that are
used as feed additives to promote leanness in pigs raised for their
meat. Most countries around the world had not approved their use as
veterinary drugs or additive in animal feed. China prohibited their use
in 2002 because of possible health risks to humans.
An official with the foreign trade division under the Ministry of
Commerce, who asked not to be named, told Xinhua ractopamine and
ractopamine hydrochloride had no other major uses apart from use in feed
additives.
The official said countries around the world had different views on
ractopamine. Countries such as the United States and Australia approved
its use, but it is banned in China and in EU countries.
China was banning the import of ractopamine, but also the export because
of possible health risks, the official said.
China's foreign trade to recover in 2010 - By Hao Yan (Dec.
8, 09, China Daily)
China's 2010 international trade volume is expected to rise
10 percent from this year, and exports to increase about 15
percent, said Pei Changhong, an expert on finance and trade
at the Chinese Academy of Social Sciences (CASS).
"The foreign trade volume of 2010 will rise back to the 2008
level," Pei said on the release of the 2010 Economic Blue
Book by the CASS on December 7. "A negative growth of
trading volume is inevitable this year, but China still sees
a surplus."
Customs statistics showed that the country's trade surplus
in January-October was more than $150 billion, and may hit
$190 billion for the whole year. The monthly exports
surpassed $100 billion from July to October. "The climbing
trend will continue for the last two months of this year,"
Pei said.
The Association of the Southeast Asian Nations (ASEAN)
became China's fourth largest importer after the European
Union, US and the Hong Kong special administrative region in
the first ten months of this year.
"The Sino-ASEAN free trade zone has had its impact," said
Pei. China and ASEAN countries impose no tariffs on 70
percent of bilateral trade goods at present, and this policy
will be extended to 100 percent next year.
China raised the export tax rebate rate, seven times this
year, which pushed up exports significantly. "The Chinese
government is expected to pay 630 billion yuan ($92 billion)
this year for the export tax rebate policy. There is limited
room left for the tax-rebate policy,"said Pei.
Chen Jiagui, an academician from the CASS, stressed that it
is crucial mission to boost domestic consumption. "We have a
long way to go. Consumption growth is to be moderate next
year, especially for the civil consumption. Some macro
policies are needed,"he said.
The 2010 Economic Blue Book forecasts total retail sales of
consumer goods may rise 16.3 percent year-on-year to reach
12.5 trillion yuan ($1.8 trillion) this year, and up 16.4
percent year-on-year next year, to reach 14.8 trillion yuan China loses
WTO car parts case against US - GENEVA (AFP)
— July 17, 2008 - The World Trade Organisation on Friday said it
had ruled against China in a complaint brought by the United
States over Chinese import tariffs on car parts.
The WTO's
dispute settlement panel urged China to bring what it termed
"inconsistent measures ... into conformity with its
obligations."
Beijing has a
minimum local content requirement of 60 percent for home
produced cars. If this level is exceeded, it then levies the
same tariff on the vehicle as it would if it were imported
completely built.
China has
said the rules aim to prevent tax evasion by companies that
import whole cars as spare parts to avoid higher tariff rates.
But the
United States, as well as co-complainants Canada and the
European Union, argued that the measure violated China's WTO
accession agreement, which pledged a progressive opening up of
Chinese markets.
In February,
sources close to the case said that China had lost, but an
official judgement was issued only on Friday.
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