China to lower overall tariffs level to 7.3% in 2023
After the latest adjustments, the country's overall tariff level will drop from 7.4 percent to 7.3 percent for the year, the Customs Tariff Commission of the State Council said in a notice.
To better utilize domestic and international resources, China will impose a provisional import tax rate lower than the "most-favored nation" tariff rate on 1,020 items starting January 1 next year. The country will also reduce the "most-favored nation" tax rate on 62 information technology products from July 1.