Question : What are the objectives for this amendment to the scope of the restricted category?

Answer :

The amendment is aimed to optimize the structure for China’s export goods, contain the export growth rate for goods with low value added contents and using low-level technology, reduce trade frictions with China’s trading parties, alleviate conflicts brought about by the huge surplus in the trade balance, foster the upgrading and transformation of export processing trade, give effect to change in the growth pattern for foreign trades, and bring along sustainable development of the economy.

At the same time, the change is aimed to work in line with the national policy over regional economic development, to speed up and develop the rational deployment of export processing trade with differing features among the regions, to adopt the differential policies among the regions in China, and to promote the migration of export processing trade to the Central and Western regions.

Other Trading Agency FAQs:

1. What major types of goods have been included into the restricted category in this announced policy? How many customs classification codes are involved and how many new codes have been included?

2. What is the combined tax rate?

3. What is the difference between restricted category for export and that for import?

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