Hardware Products to Resume Duty-free Policy in 2010

SHANGHAI, Jan. 5 -- The Ministry of Commerce and the General Administration of Customs jointly issued an announcement recently that the government adjusted the catalogue of banned commodities for the processing trade in order to weather the financial crisis and maintain the steady growth of international trade, and will resume the import duty-free policy for copper, nickel, cobalt ores and concentrates, and other commodities from 1 February, 2010.  

According to the announcement on the website of the Ministry of Commerce, the government will resume the import duty-free policy for refined copper, unwrought nickel alloy, non-alloy aluminum bar and rod, and other commodities from 1 February, 2010.

In the mean time, the government eliminates 1,730 ten-digit commodity codes from the catalogue of restricted commodities for the processing trade, including textiles, plastic products, wood products, hardware products, etc., which accounts for 77% of total restricted commodities for the processing trade, with export value expected to reach USD 30 billion.

In addition, the government also eliminates 27 ten-digit commodity codes from the catalogue of banned commodities for the processing trade, including copper, nickel, aluminum semis, etc., with export value expected to reach USD 1.5 billion, which accounts for 30% of total value of banned commodities for the processing trade.

(Edited by SMM)