China to reduce import taxes on key equipment

China’s Ministry of Finance will cut or end import taxes and VAT for imports of certain equipment.
By Staff reporter 9 January 2018 0 29019

China’s Ministry of Finance said on Monday that it will cut or end import taxes and VAT for imports of certain equipment, such as components for LNG terminals, large-scale oil refineries, ultra-supercritical coal-fired thermal power stations and large-scale coal chemical projects.

The move is intended to bolster imports of key equipment and support the ‘Made in China 2025’ strategy – an initiative that seeks to comprehensively upgrade Chinese industry.

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