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SHANGHAI -(Dow Jones)- China will apply lower import duties on over 600 energy-related, basic material items and certain electronic parts in 2011 to meet demand and foster economic structure adjustments, the Ministry of Finance said in a statement Tuesday.
The ministry didn't specify changes in the size of the import duties. But it said items such as propane and butane will be added to the list of temporarily lowered import duties for the first time.
But China will increase or cancel preferential import duties on carbon fiber yarn, ion-exchange membrane and some other items based on local companies' ability to produce these items and change in supply-demand dynamics, the ministry said, without specifying.
The ministry also said China will continue to levy export duties on coal, crude oil, fertilizer and nonferrous metals in 2011.
12-14-10 7:33 PM EST
By Joy C. Shaw
Source: news.morningstar.com
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