Customs tariff Commission of the China State Council announced that import and export duty will be partly adjusted since January 1st 2016.



To ensure the stable growth of import and export market, accelerate the imports of advanced technology, products and service, promote domestic independent innovation industry, this time adjustment will continue to encourage imports of imperative advanced equipment, key component and energy raw material. This move will also add more goods for everyday consumption into duty reduction list. In the same time, the export tax of pig iron, billet will also be reduced.



It is estimated that the export duty of screw threaded steel bar, steel wires may also slip. Currently, the export tax of pig iron and common carbon steel billet is 25%, and that of square billet, deformed steel bar, and steel wire is 15%.


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