China to lower tariffs on some imports

BEIJING -- The Finance Ministry announced on Tuesday that it would lower import tariffs on some goods from Jan 1 to support industrial development and to refine the trade mix.

Without elaborating on its time frame or the reduction details, the ministry said that the provisional tariff levy would see rebates lower than even those reserved for countries under the Most Favored Nation category.

Applicable imports include advanced manufacturing machinery and components, environmental protection equipment, resources, drugs and some consumer goods.