subject: 2010 Tariff Reduction In Machinery Industry Have Mixed Feelings [print this page] Recently, the Ministry of Finance issued a notice shows that since January 1, 2010, China will further adjust into Export Customs tariff, mainly involving the MFN rate, annual provisional tax agreement rates, preferential tariff rates and tax items and so on. So far, China joined the World Trade Organization in 2001 (WTO) in tariff reduction commitments have all been fully performed. Ministry of Finance official said, since the accession to the WTO, China reduced year by year since 2002 Import Tariff, general tariff level from 15.3% to adjust to the current 9.8%, of which the average rate of 8.9% industrial.
Investment adviser in the Kerry section of machinery industry researchers announced that, in order to achieve accession to WTO tariff reduction commitments made, China's import and export tariffs have been reduced, the average rate from 14.7% in industrial adjustment to the current 8.9%. Machinery Product As one of the main varieties of industrial products in the tax rate reduction, impact on the industry, related industries will be further expanded.
First of all, compared to the past, high tariffs, low tax rates to maintain the current standard will Car Manufacturing a long-term impact, direct repression of domestic vehicle sales, particularly in the luxury car. In recent years, China's automobile and its Parts Rate by 70-80% and pre-accession 18-65% to the current 25% and 10%. At the same time foreign enterprises in China Sell Showed a steady trend of substantial growth, such as Volvo (Volvo) car in 2009 from January to November last year, its sales increased 71% year on year, to continue to lead the luxury car market growth, while the domestic automobile industry, most enterprises have to choose joint ventures, mergers and acquisitions the way to face competition, especially in foreign countries giant foot in the upscale area of the market share is also small.
Second, the tariff is reduced, will increase imports of machinery products in the next few years continued to maintain high growth. According to General Administration of Customs released Data Show that accession to the WTO, China's total trade in goods imports in 2001 to 243.6 billion U.S. dollars increased to 1.1331 trillion U.S. dollars in 2008, an increase of 3.65 times the average annual growth rate of 24.6%. Mechanical and electrical products import value in 2008 reached 499.7 billion U.S. dollars, accounting for a large proportion of the total import, rapid growth to continue Trend .
Cast Zhang Yan, director of the consultancy study, said Lin, adding WTO tariff reduction initiatives is the development of China's economic integration into the globalization important step in the short term tax cut will bring a strong impact on China's machinery industry, but in the long run, there is conducive to improving China's machinery industry, the overall level of competitiveness.
Investment adviser in the latest release of "2009-2012 China National Machinery Industry Investment Analysis and Prediction of the report" shows that in 2009, China's machinery industry to the overall situation is good, but the foundation is not solid, especially in the face of tariff-induced decline a series of changes, the domestic enterprises should adopt a positive attitude and measures to cope with change.
