Govt slashes tariffs on some imported goods

The Ministry of Finance announced Friday that China will further cut tariffs on select imported consumer goods starting Dec 1.

The ministry said that it will slash duties from 17.3 percent to 7.7 percent, on average, on food, health products, medicines, suits, shoes, household appliances and daily necessities.

A tariff on some infant formula and milk powder products will fall from 20 percent to zero, while duty on diapers will drop from 7.5 percent to zero.