China to adjust import, export duties

The Ministry of Finance says import and export duties on some products will be adjusted from next year onwards, to save domestic resources and also to ensure a better trade balance.

Import and export duties on some products will be adjusted from next year onwards.(Photo: 55ec.com)

Import taxes on alumina, refined copper and coking coal will be lifted entirely, while the current 2 percent imposed on gasoline, diesel and jet kerosene will be slashed to just 1 percent. On the other side, export taxes on some steel products, coking coal and coke are set to be raised.

China's trade surplus is expected to hit more than 250 billion US dollars for the whole year. The government has been trying to cut soaring export levels of high energy-consuming products which pose a serious threat to the environment.