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In accordance with the revision of the World Customs Organization's "Coordination of Trade Names and Coding System" and the needs of China's industry, taxation policies, and import and export management, China has adjusted more than 1,600 eight-figure tariff lines in the current import and export tariffs. The total number is 7,646, which is 41 more than in 2006.
In order to give full play to the role of tariff adjustments, promote economic restructuring and changes in trade growth patterns, and strengthen resource conservation and environmental protection, in 2007 China introduced a tentative tariff rate for imports of over 300 commodities. At the same time, in order to further limit the export of high-energy-consuming, high-pollution, and resource-based commodities, export tariffs on coal, crude oil and other products will continue to be imposed in 2007, and new import tariffs will be imposed on raw materials such as stainless steel ingots and their primary products.
Three aspects of adjustment related to machinery industry
First of all, 52 tariff lines for machinery products are subject to a provisional import tax rate, and most tentative tax rates are lower than the MFN tariff rates in 2007 (hereinafter referred to as the current tax rate) by 3 to 10 percentage points. The main products are: biogas engines, gasoline engines, 600 hp and above diesel Engines, diesel engines for passenger cars up to 100 kilowatts; electronically controlled diesel injection devices, wind power generation equipment and their parts, combine harvesters of 160 horsepower or more; electrostatic sensitized all-in-ones, remote control devices for offset printing inks, and pulverizers Planetary gear reducer, weld intermediate frequency annealing device, digital camera camera module, lens and other parts, numerical control device for machine tools; tractor with power greater than 150 horsepower, cementing truck with cab, fracturing vehicle, sand mixing Chassis for vehicles, truck cranes with a capacity of over 55 tons, high-torque automobile transmissions, non-drive axles for buses, steering gear and parts thereof, power transmission equipment for hybrid vehicles (composed of generators, motors and power distribution devices ).
Second, China and ASEAN, Chile and other countries implement a lower free trade zone treaty tax rate than the current tax rate.
In order to expand economic and trade cooperation with various countries and promote regional economic development, China has established a "early harvest" arrangement based on the China-ASEAN Free Trade Area Agreement, the China-Chile Free Trade Area Agreement, the "Asia-Pacific Trade Agreement" and the China-Pakistan Free Trade Zone. Some of the imported products originating in 10 ASEAN countries, Chile, South Korea, Sri Lanka, Bangladesh, Pakistan and other countries adopt a lower treaty tax rate than the current tax rate. At the same time, these countries also impose a lower treaty tax rate than the current tax rate on certain commodities exported by China (for details, see related links).
Third, continue to impose zero tariffs on products that meet Hong Kong and Macao standards of origin.
The Mainland and Hong Kong and Macao Closer Economic Partnership Arrangement (CEPA) was implemented in January January 2004. By January 2007, CEPA in Hong Kong and Macao enjoyed zero-tariff preferences and had determined that the tariff codes for goods that met the rules of origin had reached 1452 and 631 respectively.
In 2007, Hong Kong's newly added goods that enjoyed zero tariffs had 45 tariff lines. Mechanical products included electric reciprocating discharge pumps, circular saw blades, base metal hoses, and blow molding machines. In 2007, Macau’s newly added goods that enjoyed zero tariffs had six tariff numbers and no mechanical products.
According to relevant regulations, the above-mentioned products that enjoy zero tariffs must meet the standards of origin, and most of the mechanical products require that the main processing steps must be carried out locally.
There will be three major impacts on China's machinery industry
One of the impacts: The import of a batch of key spare parts and important raw materials is subject to a provisional tax rate that is lower than the current tax rate, which is favorable for the machinery industry related enterprises to reduce import costs, develop high-tech products, and increase economic efficiency.
The key components mainly include: remote control device for offset printing ink, the import tariff rate in 2007 is 6%, and the provisional tax rate is zero; planetary gear reducer for coal mills, import tariff rate in 2007 is 8%, and the provisional tax rate 2%; chassis for truck cranes with a capacity of 55 tons and above; import tariff rate is 15% in 2007; tentative tax rate is 8%; numerical control device for machine tools (including CNC operation unit, whether or not it has a matching servo Amplifiers and Servomotors) In 2007, the import tariff rate was 5% and the provisional rate was 3%.
Important raw materials include: Imported boiler tube tariff rate was 10% in 2007, tentative tax rate was 5%; Electrical grade primary polypropylene resin (ash content not more than 30ppm), import tariff rate in 2007 was 7.6%, tentative tax rate 3%.
Second, the trade agreements between China and ASEAN, Chile, South Korea, and India provide opportunities for the export of China's machinery products.
The first is a good prospect for the export of Malaysia, Singapore, Thailand, Indonesia, the Philippines, Vietnam and other countries. Tractors (including crawler, wheeled), walking tractors, combine harvesters and other harvesters, wind turbine generators, internal combustion forklift trucks and parts, concrete or mortar mixing machines, stable soil pavers and other pavers , various drilling rigs, telescopes and parts, range finder, theodolites, gas analyzers, metal material testing machines, cameras (excluding digital cameras) and color film processing equipment, movie cameras and projectors, pumps, compressors, fans and Parts, Valves and Dryers, Oxygen Concentrators, Refrigeration Machinery, Small Offset Presses, and Reel Offset Printing Machines, Slab Casters, Hot and Cold Rolling Mills, Metal Rolls, Metal Mill Parts, Machining Centers and CNC Machines, Parts Non-digital machine tools, fixtures and other machine tool accessories, turbines and turbines above 350 MW, alternators above 350 MVA, AC/DC motors, AC motors, alternators up to 750 kVA, blown , automatic circuit breakers above 1000V, switches, transformers, hydraulic components, pneumatic components, bearings, moulds and seals, beverages And liquid food canned equipment, some auto parts, gasoline engines, motorcycles and parts, have a certain degree of competitiveness, we must actively expand exports.
This is followed by the export of power generation equipment, machine tools, construction machinery, automobiles and parts to Chile, export of electrical products to South Korea, and good prospects for the export of plastic machinery, plastic molds, refrigeration machinery, and foundry machinery for India. According to the relevant regulations, when exporting, the company must go through the local quality inspection department and obtain the certificate of origin before it can enjoy tax exemption.
The impact of the third: to impose export tariffs on a batch of raw materials exports, help to curb the momentum of domestic prices rose too fast. This time, new import tariffs (temporary tax rate of 10%) on raw materials such as stainless steel ingots, alloy steel ingots and their primary products can ease the contradiction between supply and demand in the domestic market.
Advice on tariff adjustment
First of all, the key components of imported major equipment are given tax exemption (or first retreat), and the domestic market is in short supply of raw materials for import and export, and adopts a tentative tax rate approach to adjust.
Recently, the Ministry of Finance, the National Development and Reform Commission, the General Administration of Customs, and the State Administration of Taxation jointly issued the "Notice on Implementation of the State Council's Several Opinions on Accelerating the Revitalization of the Equipment Manufacturing Industry concerning Import Taxation Policies." The "Notice" stipulates that domestic enterprises should develop and manufacture The import tariffs levied on major key components and parts imported from major technical equipment and raw materials that cannot be produced domestically are subject to first withdrawal, and it is hoped that this policy will be implemented as soon as possible.
The domestic resources such as copper, aluminum, silver, cold-rolled alloy steel plates, hot-rolled stainless steel coils, oriented silicon electric steel wide plates and narrow plates, crawler plate steel and other materials needed by the machinery industry are insufficient and still need to be imported. In recent years, the prices of these materials in the domestic market have continued to soar, which has seriously affected the development of many mechanical products. To this end, it is proposed to impose a provisional tax rate that is lower than the current tax rate for imports of these raw materials; at the same time, they should control the export of these materials, cancel their export tax rebates, and adopt a tentative tax rate approach to impose export tariffs to increase the domestic market’s Sources of supply curb the momentum of excessive price increases in the domestic market.
Second, we actively support the import of advanced technology and equipment produced by Chinese enterprises after they purchase overseas companies.
In recent years, some powerful enterprises in the machinery industry have acquired or controlled some well-known overseas companies, of which the machine tool industry is particularly prominent. In September 2004, Dalian Machine Tool Group acquired Ingersoll Production Systems of the United States and Crankshaft Equipment Co., Ltd., which manufactures automotive engine tools and integrated manufacturing systems and high-speed machining centers. In October 2004, Shenyang Machine Tool Group acquired the German company Hess, a world-famous brand, which manufactures CNC gantry milling machines, CNC floor boring and milling machines, and large CNC vertical lathes. In early 2005, Beijing No. 1 Machine Tool Factory wholly acquired WALDRICH COBURG, a German manufacturer of heavy-duty CNC gantry milling machines.
The products produced by these companies are advanced in technology and imported by domestic users. As it is currently a Chinese-funded enterprise outside of China, its intellectual property and corporate profits are owned by the Chinese. Therefore, it is recommended that, for equipment produced by overseas Chinese-funded enterprises, the domestically-manufactured product definition standard shall be assigned to the equipment imported from abroad, and the import shall be deemed as domestic product and exempted from customs duties, and shall be listed in the catalogue of government procurement products of China and shall enjoy the same treatment as domestic products.
Import and Export Tariff Adjustment Affects Three Major Positive Effects on Machinery Industry
With the approval of the State Council, the Customs Tariff Commission of the State Council issued a notice on December 19, 2006. From January 1, 2007, China continued to reduce the number of fresh strawberries, chemicals, etc. in accordance with the Tariff Reduction Commitment of the World Trade Organization. The import tariffs for tax purposes continue to implement tariff quota management on 7 kinds of agricultural products such as wheat and corn and 3 kinds of chemical fertilizers. After adjustment, the total tariff level in 2007 will be reduced from 9.9% in 2006 to 9.8%, of which the average tax rate for industrial products is 8.95% and the average tax rate for agricultural products is 15.2%.