US Dollar Exchange Rates of
China Yuan 6.7785
Report from China
Adjustments to tariffs
The State Council has announced adjustments to tariffs for
2023. According to the Customs Tariff Commission this
year China will impose tariffs on 8,948 tax items and the
overall tariff level will be reduced from 7.4% to 7.3% to
spur demand and growth. These adjustments include tariff
waivers for key medical goods, tariff increases on certain
commodities to protect domestic industries and the
addition of new tax items.
Beginning 1 January 1,020 items, including anti-COVID
drugs, will be subject tariff rates which are lower than the
most favored nation (MFN) tariffs. Tariffs on some
commodities will be raised to assist with the development
of the domestic industry.
Starting from 1 July 2023 China will implement the eighth
step of the MFN tariff rate reduction on 62 information
technology (IT) products further lowering China’s overall
tariff level. This is will support high-quality development
and ‘opening’ under the so-called ‘dual circulation
Wood product tariff reductions
The import tariffs on some wood products, paper and
printing products will be reduced in 2023.
The wood products involved include charcoal, woodwool
and wood powder, laminated wood, particleboard,
fibreboard, plywood, wooden wares, wooden doors and
windows, cork products, bamboo and rattan products.
Tariff exclusions for US imports
China issued a notice extending tariff exemptions for US
imports for the ninth time recently. The Customs Tariff
Commission of the State Council released the ninth tariff
exclusion extension list of additional tariffs on 95 kinds of
commodities subject to tariff countermeasures against the
US Section 301 measures.
The ninth tariff exclusion extension list will allow China
to extend tariff exemptions on the commodities listed in
the attachment from 1 December 2022 until 31 May 2023.
Real estate market will stabilise and recover -
The Minister of Housing and Urban-Rural Development
has been quoted as saying that the government has full
confidence that in 2023 the real estate market will recover,
adding that support for those buying their first home will
be provided. Additionally, support could be given to those
who sell old houses for new ones, small houses for larger
ones and families with multiple children.
In principle the government does not support the purchase
of more than three homes which is aimed at reducing real
estate speculation. At the same time, government intends
to increase the supply of low-income rental housing and
the development of the long-term rental housing market.
Record high output of woodbased panels
A ‘China Wood-based Panel Industry Report 2022’ has
been released by the China Forest Products Industry
Association and Industry Development Planning Academy
under the National Forestry and Grassland Administration.
The report discusses production, consumption, layout,
international trade, technology and equipment, standard
and quality, environmental protection, production safety
and recent industry policies and hot spots of China's woodbased
panels and adhesives in 2021, and looks into the
According to the report, the total output of China’s woodbased
panel sector was 337 million cubic metres in 2021, a
year-on-year increase of 8.3%. The output of particleboard
products increased by 32% year on year and the
consumption of wood-based panels was about 318 million
cubic metres, a year-on-year growth of 7.5%.
The growth of particleboard consumption is the main
factor driving the total consumption growth of wood-based
panel. By the end of 2021 there were more than 13,200
wood-based panel manufacturers in China, including
nearly 190 large manufacturers and enterprise groups, with
a total annual output capacity of about 57 million cubic
meters and accounting for 18% of the total output
Low-tech production capacity is being eliminated in
China's wood-based panel industry and this has
accelerated in recent years. There are 142 continuous flatpressed
fibreboard production lines in China with a total
annual production capacity of 30.37 million cubic metres.
There are 79 continuous flat-pressed particleboard
production lines with a total annual production capacity of
20.1 million cubic metres. Particleboard production
capacity continues to rise and the capacity of continuous
press lines for fibreboard and particleboard both exceeded
China-Gabon enterprises promote forestry development
A seminar on forestry policy was jointly hosted by the
Chinese Embassy in Gabon, the Ministry Water and
Forests in Gabon and the Asian Timber Association.
Ambassador Li Jinjin and Stéphane Bonda, a
representative of the Ministry of Gabon Water and Forests,
attended opening ceremony and addressed the meeting.
Nearly 100participants attended the seminar.
China and Gabon have deepened cooperation in forest
harvesting, wood processing, forest products trade and
forestry investment in recent years. Chinese companies
have harvesting rights over more than 50% of Gabon's
16.4 million hectares of production forests.
China is the main export market for Gabon wood products.
There are 167 Chinese forestry enterprises in Gabon
accounting for more than 70% of the total number of