China will reduce import duties on some raw materials from recycled copper and aluminum Reuters writes

SHANGHAI (Reuters) – China will cut import duties on ethane and certain recycled and aluminum raw materials from next year, the government said on Saturday.

The Ministry of Finance announced adjustments to various import tariff categories, which will come into effect on January 1, with the aim of increasing the import of high-quality products, expanding domestic demand and promoting openness at a high level, according to the press release.

Temporary import duties below most-favored-nation rates will apply to 935 items, the ministry said. Import duties on ethane and certain recycled copper and aluminum raw materials will be lowered to promote ecological and low-carbon development.

Tariffs will rise on goods including molasses and sugar-containing powders, but will increase on items such as cyclic olefin polymers, ethylene-vinyl alcohol copolymers and automatic transmissions for special-purpose vehicles such as fire engines and repair vehicles.

Import duties will also be reduced on items such as sodium zirconium cyclosilicate, viral vectors for CAR-T tumor therapy and nickel-titanium alloy wires for surgical implants.

The China-Maldives free trade agreement will enter into force on January 1, with the application of tariff reductions, the ministry said.