China to further lower tariffs by 20-30%

Published: 24 Nov 2008 01:54:27 PST

Nov. 24, 2008 (China Knowledge) - China will cut tariffs on agricultural and non-agricultural products by 20 to 30%, the China Securities Journal reported today, citing Zhang Xiangchen, a senior envoy at the Chinese Permanent Mission to the World Trade Organisation (WTO).

The move will help stimulate international trade amid the global financial turmoil, said Zhang, without giving a timeframe for the tariff cut.

Currently, China's average tariff on agricultural products is 15.2%, compared with 54% before the country's entry into the WTO. The average tariff for non-agricultural products is around 9%.

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