Eleven new influential regulations for Chinese businesses

4 Cut tariffs on some goods from Asia-Pacific nations

China will cut import tariffs on goods from certain Asia-Pacific countries, starting from July 1, according to the State Council.

China will reduce the tariffs on soybean imported from India, South Korea, Bangladesh, Laos, and Sri Lanka from the current 3 percent to zero. Imported products such as chemicals, agricultural products, medical supplies, clothing, steel and aluminum products from these countries will also enjoy certain tariff reductions.

All imported products from the above five countries will adapt a tariff rate of the Second Amendment of The Asia-Pacific Trade Agreement, said the State Council.