CHINA LOWERED its tariffs on 187 kinds of imported commodities last year from 17.3 percent to 7.7 percent on average, said Liu He, vice-chairman of the National Development and Reform Commission, at the World Economic Forum last week. Beijing Youth Daily comments:
It is noteworthy that Liu, who headed the Chinese delegation in Davos, also said that China will continue to lower its tariffs in the future, including those on imported automobiles.
Many potential buyers expect the tariff cuts will help bring down the retail prices of expensive imported cars. In fact, they should tone down their expectations as there are many links between the manufacturing of the cars overseas to the vehicles being offered by Chinese retailers.