China's export tariffs cut for the first time this year

Zhang Yuan The Ministry of Finance announced yesterday that, from July 1 onwards, the elimination of wheat, rice, soybeans and other food products, as well as sulfuric acid, steel wire and other industrial exports of temporary tariffs.　　This is the first time this year, China's export tariff reduction, but also since the financial crisis, China's second adjustment of tariffs on export products.　　The Ministry of finance not only canceled some of the export tariffs on food products, but also reduced the temporary tariffs on exports of small and medium-sized steel, some fluorine chemical products, some non-ferrous metals such as tungsten, molybdenum and indium and their intermediates.　　Expert interpretation of the Chinese Academy of Sciences, director of the Institute of Rural Development Party said that the financial crisis, the food market has been a certain impact, the national tariff adjustment can effectively divert the market, but also to promote the development of foreign trade. This should be a long-term mechanism, and the policy may be further adjusted in the future, depending on the situation.