1. The China-ASEAN Free Trade Area Agreement on Trade in Goods was implemented on July 20, 2005.
On November 29, 2004, the Chinese government signed the China-ASEAN Free Trade Area (CAFTA) Agreement on Trade in Goods and the Agreement on Dispute Settlement Mechanism (hereinafter referred to as the Agreement) with ASEAN. The agreement stipulates that from July 2005, both parties will More than 7,000 products for tax purposes were tax-deductible, and preferential treatment was granted to products originating in China and ASEAN, and the customs clearance of each other's goods was achieved at the tax rate of the free trade zone. This will significantly promote trade between China and ASEAN and have a positive and far-reaching impact on the development of bilateral economic and trade relations.
The agreement stipulates that China will cancel tariffs on most products and establish free trade zones in 2010 with Brunei, Indonesia, Malaysia, the Philippines, Singapore and Thailand. New members of the four ASEAN countries in Cambodia, Laos, Myanmar and Vietnam will enjoy more than five years of transition in the above six countries and achieve free trade with China by 2015.
Currently, Brunei, Malaysia, Myanmar, and Singapore have completed the domestic approval process for the Agreement on Trade in Goods. Indonesia and Thailand will also complete the approval process for the agreement in the near future. China and the above countries will grant preferential tariff treatment to each other from July 20; the Philippines, Cambodia, Laos and Vietnam will grant preferential tariff treatment to China after completing the domestic approval process.
Second, the two sides divide the products into three categories
According to the "Goods Trade Agreement", the two parties divide the products into normal products, general sensitive products and highly sensitive products.
A normal product is a product that both parties believe can be tax-deductible, including most mechanical basic parts:
General sensitive products refer to a few products that the two sides believe are difficult to reduce taxes in the early stage, such as household appliances (air conditioners, washing machines, vacuum cleaners, color TVs, lighting equipment, etc.). Some ASEAN countries also listed engines, a small number of construction machinery, copper winding wires and some agricultural tools as general sensitive products; the general sensitive products proposed by China include: auto parts, road tractors, non-diesel buses, heavy trucks, and car chassis. , oil tankers, container ships, bulk carriers, ro-ro ships, floating docks, etc.;
Highly sensitive products are products that require a relatively high tariff rate to be retained for an extended period of time. Most countries in ASEAN have classified some cars, motorcycles and key parts as highly sensitive products, and retain 50% tariffs. The highly sensitive products proposed by China include: some digital TV sets, diesel buses, cars and light buses.
The agreement also stipulates that as long as one party proposes that a product needs to be included in a sensitive product, it can become a sensitive product of both parties and enforce the same tariff rate.
Third, the tax reduction steps
The agreement stipulates that the normal tariffs of China and Brunei and other six ASEAN countries will fall to zero in 2012; general sensitive products will fall to 20% in 2012 and 0-5% in 2018; highly sensitive products will fall to 50% in 2015.
The normal products of four countries, such as Cambodia, fell to zero in 2012, and general sensitive products fell to 20% in 2015 and 0-5% in 2020; highly sensitive products fell below 50% in 2018.
According to the agreement, China and the six ASEAN countries should reduce the normal product tax rate to 40% to 5% in 2005. In 2007, the two parties should reduce the normal product tax rate to 60% to 5%. The annual product tax rate is 0-5%, and the 60% product tax rate is 0-5% in 2007.
At present, the import tariff rate of China's mechanical and electrical products is generally higher than that of the six ASEAN countries. Taking 2003 as an example, the average tariff rate of China's mechanical and electrical products import tariff is 10.23%. According to the mechanical basics of the China Machinery Industry Federation, the average tax rate is 8.51%. Among them, hydraulic pressure seals are 9.29%, bearings are 7.75%, molds are 7.43%, and mechanical parts are 8.67%. The ASEAN 6 countries except Malaysia are 10.07%, and the other 5 countries are all below 5%. Therefore, according to the requirements of tax reduction, ASEAN countries will gradually reduce taxes, and large-scale tax reductions will be in 2009, while China will face substantial tax reductions on July 20, 2005, compared with 2003, 2005. From July 20th, it will drop by about 2 percentage points on average, and by 2009 it will drop by more than 5 percentage points.
Fourth, seize business opportunities and expand the export of mechanical basic parts
The ASEAN countries generally reduce import tariffs and provide opportunities for China's exports of machinery products. In recent years, China's exports of machinery products to ASEAN have increased year by year. According to customs statistics, in 2003, China Machinery Industry Federation's statistics on machinery products and ASEAN's total import and export volume was 8.16 billion US dollars, of which exports were 4.859 billion US dollars, imports were 3.301 billion US dollars, and the surplus was 1.558 billion US dollars; 2004 import and export was 115.75 billion US dollars. 41.85% higher than the previous year (the same below), of which exports were 6.826 billion US dollars, up 40.48%, imports were 4.749 billion US dollars, up 43.86%, and the surplus was 2.077 billion US dollars.
The authenticity of this information has not been confirmed by the international electrical network, for your reference only.
On November 29, 2004, the Chinese government signed the China-ASEAN Free Trade Area (CAFTA) Agreement on Trade in Goods and the Agreement on Dispute Settlement Mechanism (hereinafter referred to as the Agreement) with ASEAN. The agreement stipulates that from July 2005, both parties will More than 7,000 products for tax purposes were tax-deductible, and preferential treatment was granted to products originating in China and ASEAN, and the customs clearance of each other's goods was achieved at the tax rate of the free trade zone. This will significantly promote trade between China and ASEAN and have a positive and far-reaching impact on the development of bilateral economic and trade relations.
The agreement stipulates that China will cancel tariffs on most products and establish free trade zones in 2010 with Brunei, Indonesia, Malaysia, the Philippines, Singapore and Thailand. New members of the four ASEAN countries in Cambodia, Laos, Myanmar and Vietnam will enjoy more than five years of transition in the above six countries and achieve free trade with China by 2015.
Currently, Brunei, Malaysia, Myanmar, and Singapore have completed the domestic approval process for the Agreement on Trade in Goods. Indonesia and Thailand will also complete the approval process for the agreement in the near future. China and the above countries will grant preferential tariff treatment to each other from July 20; the Philippines, Cambodia, Laos and Vietnam will grant preferential tariff treatment to China after completing the domestic approval process.
Second, the two sides divide the products into three categories
According to the "Goods Trade Agreement", the two parties divide the products into normal products, general sensitive products and highly sensitive products.
A normal product is a product that both parties believe can be tax-deductible, including most mechanical basic parts:
General sensitive products refer to a few products that the two sides believe are difficult to reduce taxes in the early stage, such as household appliances (air conditioners, washing machines, vacuum cleaners, color TVs, lighting equipment, etc.). Some ASEAN countries also listed engines, a small number of construction machinery, copper winding wires and some agricultural tools as general sensitive products; the general sensitive products proposed by China include: auto parts, road tractors, non-diesel buses, heavy trucks, and car chassis. , oil tankers, container ships, bulk carriers, ro-ro ships, floating docks, etc.;
Highly sensitive products are products that require a relatively high tariff rate to be retained for an extended period of time. Most countries in ASEAN have classified some cars, motorcycles and key parts as highly sensitive products, and retain 50% tariffs. The highly sensitive products proposed by China include: some digital TV sets, diesel buses, cars and light buses.
The agreement also stipulates that as long as one party proposes that a product needs to be included in a sensitive product, it can become a sensitive product of both parties and enforce the same tariff rate.
Third, the tax reduction steps
The agreement stipulates that the normal tariffs of China and Brunei and other six ASEAN countries will fall to zero in 2012; general sensitive products will fall to 20% in 2012 and 0-5% in 2018; highly sensitive products will fall to 50% in 2015.
The normal products of four countries, such as Cambodia, fell to zero in 2012, and general sensitive products fell to 20% in 2015 and 0-5% in 2020; highly sensitive products fell below 50% in 2018.
According to the agreement, China and the six ASEAN countries should reduce the normal product tax rate to 40% to 5% in 2005. In 2007, the two parties should reduce the normal product tax rate to 60% to 5%. The annual product tax rate is 0-5%, and the 60% product tax rate is 0-5% in 2007.
At present, the import tariff rate of China's mechanical and electrical products is generally higher than that of the six ASEAN countries. Taking 2003 as an example, the average tariff rate of China's mechanical and electrical products import tariff is 10.23%. According to the mechanical basics of the China Machinery Industry Federation, the average tax rate is 8.51%. Among them, hydraulic pressure seals are 9.29%, bearings are 7.75%, molds are 7.43%, and mechanical parts are 8.67%. The ASEAN 6 countries except Malaysia are 10.07%, and the other 5 countries are all below 5%. Therefore, according to the requirements of tax reduction, ASEAN countries will gradually reduce taxes, and large-scale tax reductions will be in 2009, while China will face substantial tax reductions on July 20, 2005, compared with 2003, 2005. From July 20th, it will drop by about 2 percentage points on average, and by 2009 it will drop by more than 5 percentage points.
Fourth, seize business opportunities and expand the export of mechanical basic parts
The ASEAN countries generally reduce import tariffs and provide opportunities for China's exports of machinery products. In recent years, China's exports of machinery products to ASEAN have increased year by year. According to customs statistics, in 2003, China Machinery Industry Federation's statistics on machinery products and ASEAN's total import and export volume was 8.16 billion US dollars, of which exports were 4.859 billion US dollars, imports were 3.301 billion US dollars, and the surplus was 1.558 billion US dollars; 2004 import and export was 115.75 billion US dollars. 41.85% higher than the previous year (the same below), of which exports were 6.826 billion US dollars, up 40.48%, imports were 4.749 billion US dollars, up 43.86%, and the surplus was 2.077 billion US dollars.
The authenticity of this information has not been confirmed by the international electrical network, for your reference only.
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