China Suspends Trade Customs Duty Deposit

China's Ministry of Commerce and the General Administration of Customs jointly issued Announcement No.97 [2008] on November 21, 2008, under which the "actual payment" of customs duty deposit will be suspended with effect from December 1, 2008.

The new policy will affect 1,853 tariff items under the restricted exports category and 272 tariff items under the restricted light industry and textiles imports category. Category A and B processing trade enterprises will temporarily switch from "actual payment" to "nominal payment" of customs duty deposit, whereas Category C enterprises will continue with "actual payment."

Some 17 tariff items of furniture products will be removed from the restricted category of processing trade.

Details of the announcement and lists of affected items are on the Ministry of Commerce's webpage.