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Would you talk about the adjustment of the import tariff policy issued for implementation on October 1 this year?
Would you talk about the adjustment of the import tariff policy issued for implementation on October 1 this year?
Under the approval by the state council, the Ministry of Finance, the State Development and Planning Commission, the State Economic and Trade Commission, the Ministry of Foreign Trade and Economic Cooperation, the General Administration of Customs, and the State Administration of Taxation, jointly issued on September 10 "Circular on Partly Adjustment of Preferential Policies of Import Tariffs" (F.T.[2002]No.46), which announced that part of the present preferential policy of import tariffs would be adjusted on October 1, 2002. The policies adjustment mainly included: (1) Adjusting the tariff policy for the investment projects approved before April forth 1996; (2) Adjusting the implementation method of the import tariff exemption policy for the "Permitted Foreign Investment Projects with All the Products to be Exported Abroad" set forth in the "Catalogue for the Guidance of Foreign Investment Industries"; (3) In the future, the application for the import tariff reduction or exemption for projects will not be accepted and approved on individual cases.
This adjustment only aimed to normalize the implementation of the present import tariff policy rather than adjusting the content of the policy or resulting in a change in the policy of foreign investments. For example, the adjustment over the tariff policy for the "foreign-invested enterprises with all their products to be exported abroad" did not aim to change the policy itself but to partly adjust the implementation method of the present policy so that the government authorities could really know the effect of implementing the policy and enterprises including foreign-invested ones could run their businesses in conformity with the framework of currently effective laws and stipulations. No adverse influence would be incurred to the foreign-invested enterprises which operate according to law.
