RCEP) and the China-Cambodia FTA, both of which will come into effect on January 1, 2022.
市场调查领域，除广播电视收听、收视调查须由中方控股外，取消外资准入限制。社会调查领域，允许外商投资社会调查，但要求中方股比不低于67%，法人代表应当具有中国国籍。 make technical conversions of certain tariff items. After the adjustment, China will have in total 8,930 tariff items.
What are the changes and which items will be affected?
Anti-cancer drugs and medical products: To reduce the financial burden on patients, impose zero tariffs on radium chloride injections, a new anti-cancer drug, and reduce import tariffs on some medical products, including intracranial thrombectomy stents and artificial joints.
Aquatic products and sports equipment: To boost consumption upgrading and enhance the atmosphere of the winter Olympic Games, reduce import tariffs on some high-quality aquatic products, including salmon and cod, as well as baby clothes, dishwashers, and skiing gear.
Oil paintings and antique artwork
Increase import and export duties on certain commodities
From January 1, 2022, China will raise import and export duties on some commodities to balance domestic demand and supply as well as upgrade its industries. The changes include:
Reimposing MFN tariffs on some amino acids, lead-acid battery parts, gelatin, pork, and m-cresol, and abolishing interim import tax rates on these products.Raising import and export duties on phosphorus and blister copper to promote the transformation, upgrading, and high-quality development of relevant industries.
Further reducing MFN tariff rates on IT products
Apply conventional duty rates on products from 29 countries
To boost high-quality opening, China will continue applying conventional duty rates to some goods originating from 29 countries and regions, in accordance with FTAs and preferential trade arrangements agreed upon with these countries and regions.The RCEP and the China-Cambodia FTA will enter into force on January 1, 2022, which will also trigger tariff reductions.
China has been implementing a series of regulations to reduce import-export taxes and duties to promote a higher level of openness and domestic consumption.The 2022 tariff adjustments reflect the country’s intention to secure its industrial and supply chains. They also aim to reallocate resources to promote technology innovation, industrial upgrades, and green development, and help boost China’s participation in the restructuring of the global industrial chains and the global free trade network.
The 2022 tariff adjustments could affect companies that import and export taxable goods and services with China. Foreign stakeholders should pay attention to these changes to better tap into China’s growing consumer markets.
Preparing for RCEP implementation
Among the 29 countries that will enjoy conventional duty rates for exports to China, nine of them – Japan, Australia, New Zealand, Brunei, Cambodia, Laos, Singapore, Thailand, and Vietnam – are among the 14 RCEP members.China will reduce tariffs on a wide range of goods imported from these nine countries starting from January 1, 2022. As a result of this latest move, more than 90 percent of the goods traded among RCEP members will be tariff-free, experts have said. This will promote the growth of regional trade and investment, according to the MOF.