Source: CCTV.com

10-10-2007 08:45

The Ministry of Finance has confirmed import tariff-cuts on electronic media that have been in effect since mid-September. Tax on this category of imports now stands at 13 percent, down from the earlier 17 percent.

Analysts say the move aims to encourage imports of cassette-tapes, floppy discs, as well as CDs and DVDs in the latest bid to help cut China's surging trade surplus, and rebalance its international payments. They believe this could be effective, given that such products make up the bulk of imports from developed countries and also the main source of China's trade surplus.

Figures from August show the country's trade surplus level standing at 25 billion US dollars that's up 33 percent from last year.

 

Editor:Xiong Qu