More cargo enjoys tariff cuts under mainland-Taiwan easement

JANUARY was the first month that the Mainland-Taiwan Economic Cooperation Framework Agreement (ECFA) Early Harvest Programme took effect, affecting more than 360 lots of cargo, which enjoyed tariff cuts at the Shanghai customs, Xinhua reports.


Shanghai customs' statistics show that there are 226 lots of imports, valued at US$170.4 billion, which enjoyed tariff cuts in January. Most were plastic and textile raw materials or mechanical and electric products. Tariffs were reduced or eliminated to a value of CNY5.17 million (US$790,000).


Shanghai's trade with Taiwan grew 21 per cent year on year to US$2.95 billion in January, taking up 6.4 per cent of the city's import and export value. Exports to Taiwan valued were at $1.04 billion, up 24.3 per cent while imports from Taiwan increased 19.3 per cent to $1.91 billion in value.
(Source:http://www.schednet.com)