China Will Reduce 730 Categories Product's Import Tax Rate.

Guangzhou Daily Reported today that in 2012 Chinese governement will ajust the import tax rate in order to stimulate imports to meet the nationwide economy development and domestic consumption need. The governement will enforce lower tax rate for 730 categores products,  which the everage tax rate will be 4.4% and will be lower 50% compare to the most preferential countries' tax rate. Some of the products made in HongKong and Macau originally will enforce zero tax rate.

Those tax cut products can be categoried into  the following 5 categories:

1. Energy resources products, such as coal, finished product oil etc.

2. High-Tech product, New Generation Information Technology & New Energy Saving Car.

3. Agriculture Produce Equipment, such as fertilizer etc.

4. Daily Consuming Product , such as iced sea food, milk powder etc.

5. Public medical product, such as vaccine etc.