China Reduces Tariffs on Some Medical Imports and Exports

China’s Ministry of Finance announced on December 15, 2017 that it will reduce tariff levels on a number of import and export items starting January 1, 2018. Medical import items affected include advanced equipment, key machine components, and raw materials for advanced medicine, the ministry said in a statement. Products from 26 countries, including South Korea, Australia, and countries in ASEAN, will enjoy additional tax concessions. Most Favored Nation tariff reductions for medical devices include: dental retainers (from 4% to 2%), pacemakers (from 2.7% to 2%), stents (from 2.7% to 2%), cochlear implants (from 2% to 0%), digital X-ray imaging plate detectors (from 6% to 3%), and infrared thermometers (from 4.2% to 4 %). Pharmaceutical raw materials that had tariffs reduced include propionic acid (from 5.5 % to 3%), diethylene glycol (from 5.5% to 3%), acarbose (from 6.5% to 4%), and atorvastatin calcium (from 6.5% to 4%).