Customs duties to be adjusted

China is planning to adjust its customs duties from Jan 1, 2014 to help economic restructuring, support emerging industries as well as drive balanced foreign trade, the Ministry of Finance said on Wednesday.

Duties on about 760 imported goods will be reduced by an average of 60 percent, including raw materials for emerging industries.

Meanwhile, provisional annual tariffs on products, such as optical fiber performs, will be not implemented in 2014.

The ministry said in order to promote ecological development, provisional export tariffs on coal, crude oil, fertilizer and titanium will stay, while export tariffs for fertilizer will be lowered.

In general, after the adjustment, import and export tariff items will be increased to 8,277 from 8,238 in 2013. Newly added products include 3D printers, crystal and welding robots.