Import duties on HDPE, LDPE lowered in China

In line with the guidelines for tax reduction, set when China entered the World Trade Organization, China has lowered import tariffs for high density (HDPE) and low density polyethylene (LLDPE) by 1.3% to 10.3% from Jan 1. With this cut, import prices will see a reduction of almost US$11/mt, with value added tax and exchange rates unchanged. A special 3% import duty on LDPE sales with a value above $1,500/mt CFR China continues to be in place since its introduction in early 2004. China's import tariffs for PE, which started at 14.2%, were reduced by 1.3% annually from 2002. The reductions are expected to continue until 2008, where the import tariff for PE would be reduced to 6.5%.
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