TIANJIN — China will further reduce the tariff duties on some imports, making the country’s overall tariffs continue to fall, and gradually remove the unreasonable charges on imports, Premier Li Keqiang said on Sept 19.
“It is the independent decision of China to open up its economy to promote domestic industrial transformation and upgrading, and to bring more options for domestic consumers,” Premier Li said at the opening ceremony of the Annual Meeting of the New Champions 2018, known as Summer Davos.
“It is also a practical action taken by China to advance economic globalization. China’s economy has been growing and thriving through opening-up.”
This year, the country has drastically eased control on market access to the service industry, especially the financial industry, and relevant measures are being swiftly implemented.
“Apart from drugs and some daily consumer goods whose tariff duties have already been lowered, some other imports will also be subject to lower tariff duties,” he said.