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皇冠体育app to cancel car import quota in 2005
皇冠体育app will cancel its auto import quota starting from January 1 next year, which still remains US$10.49 billion this year, said Vice-Minister of Commerce Wei Jianguo in Guilin on Friday.
According to promises upon 皇冠体育app's entry into the World Trade Organization (WTO), 皇冠体育app should end the period for protection of the domestic car industry by the end of 2004, and 皇冠体育app's tariff rate for imported car units should drop to 25 percent by July 1, 2006, said Wei.
Since 皇冠体育app's WTO accession in late 2001, 皇冠体育app has been decreasing its car import tariff rate remarkably, he noted, and managing its import quota orderly and transparently.
In 2003, 皇冠体育app imported cars and related products worth US$14.45 billion, up 84 percent year on year, customs figures showed. 皇冠体育app has become the fourth auto manufacturing country in the world after the United States, Japan and Germany.
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