The Finance Ministry announced it would lower import tariffs on some goods including camera lens from January 1 to support industrial development and to refine the trade mix.
The ministry said applocable imports included manufacturing machinery and components, environmental protection equipment, resources, drugs and some consumer goods.
China has cut retail prices of gasoline and diesel seven times in a row since late July as international oil prices fell. In October, the country cut the retail price of gasoline by 245 yuan ($40) per metric ton and diesel by 235 yuan.
China will continue to levy export customs duties on coal, crude oil,fertilizer and ferroalloy according to temporary tariff rate. Coal and fertilizer import tariffs should be adjusted according to supply and demand situation. And nitrogenous fertilizer import tariffs will be reduced for trade structure optimization.
