First zero-tariff goods arrive in Ningbo
- Details
- Category: Governmental News
- Published: Tuesday, 05 January 2016 20:42
Recently, a batch of 72,000 tons of imported coking coal passed the green channel of the Ningbo Customs. It is reported that the coking coal, imported by Ningbo Iron & Steel Co. Ltd. from Australia, is the first batch of the goods in Zhejiang Province to enjoy the preferential tariff rate of the Sino-Australian Free Trade Agreement.
The FTA was put into official operation on December 20. "According to the agreement, the tariff of the choking coal drops from 3% to zero. Accordingly we saved 1.155 million yuan in tariff for this batch of goods." said Wang Xiaohong, Customs Manager of Ningbo Iron & Steel Co. Ltd. The company consumes 2.5 million tons of coal annually, and the reduction of the tariff reduces its import cost and thus helps to greatly improve its competitiveness
