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China's State Development Planning Commission (SDPC) on Friday released Tentative Regulations on the Administration of Import Tariff Quotas of Agricultural Products.
This was one of China's major steps towards reforming its administration of agricultural product imports according to its commitment to the World Trade Organization (WTO). The move was made to establish a uniform and fair system of administrating agricultural product imports.
The SDPC said it will soon release the volume of tariff quotas,application requirements, principles of the distribution of quotasand timetable of applications for the year 2002.
According to China's commitment to the WTO, China will set the tariff quotas for agricultural products such as wheat, corn, rice,bean oil, rape oil, olive oil, sugar, cotton, wool and woolen yarnevery year. Lower tariffs will be applied to imports under the quotas.
(Xinhua News Agency February 3, 2002)
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