China Extends Customs Agreement for Reduced Tariffs on Cargo From Certain Countries
China is renewing a customs agreement that allows Hong Kong traders to transship cargo from Hong Kong to mainland China under reduced tariffs, according to an Aug. 21 report from the Hong Kong Trade Development Council. The agreement allows for…
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reduced tariffs for cargo from China’s list of “Least Developed Countries,” which includes mainly African nations, including Angola, Ethiopia, Uganda and more, the report said. The agreement allows Hong Kong traders to apply for “Certificates of Non-manipulation,” which make cargo eligible for “preferential tariffs,” the HKTDC said. The agreement was originally set to end on Aug. 1.