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China to down-adjust import duties for petchem products: Part IChina to down-adjust import duties for petchem products: Part I |
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To further reducing the burden on local consumers, the Chinese government decided to down-adjust import duties for a number of products, including petrochemical products with effective starting 1 January 2019.
Some the petrochemical products that benefit from the duties reductions are shown in the following table:
|
HS Code |
Description |
Current Duty |
New Duty |
|
29012100 |
Ethylene |
2% |
1% |
|
29012200 |
Propylene |
2% |
1% |
|
29032100 |
Vinyl chloride |
5.5% |
1% |
|
27111200 |
Liquefied propane |
5% |
1% |
|
39011000 |
Polyethylene with a specific gravity less than 0.94 (Imported CIF price is higher than USD 3,800/ton) |
6.5% |
3% |
|
39012000 |
Polyethylene with a specific gravity of 0.94 and above (Import CIF price is higher than USD 3,800/ton) |
6.5% |
3% |
|
39021000 |
Electrical grade primary shape polypropylene resin (ash content not greater than 30ppm) |
6.5% |
3% |
It is important to note that these rates are applied to all trading partners, however, there was no mention about the USA, where a number of petrochemical products have been facing 25% tariff in China.
The second set of tariff adjustment pertaining to trading partner countries including South Korea, Asia Pacific, and Oceania.
Country
China
