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According to Huacheng Import and Export Data Observation, the Tariff Commission of the State Council issued an announcement that, according to the Regulations of the People's Republic of China on Import and Export Tariffs and relevant regulations, import and export tariffs on some commodities will be adjusted from January 1, 2023.

The Announcement pointed out that, in order to enhance the linkage effect between domestic and international markets and resources, China will implement a temporary import tax rate lower than the MFN tax rate on 1020 commodities from January 1, 2023. It was mentioned that import tariffs on some wood, paper products and other commodities would be reduced. Huacheng's import and export data observation report.

The Announcement also proposed that, according to the free trade agreements and preferential trade arrangements signed between China and relevant countries or regions, in 2023, the agreed tax rate will be applied to some commodities originating in 29 countries or regions under 19 agreements. Among them, according to the relevant provisions of the Regional Comprehensive Economic Partnership Agreement (RCEP) and the agreement's entry into force for Indonesia, from January 2, 2023, the RCEP agreement tax rate will be applied to some commodities originating in Indonesia, and Huacheng's import and export data observation report.

The above adjustment measures focus on promoting high-quality development, which is conducive to enhancing the endogenous power and reliability of the domestic big cycle, supporting the cross cycle design and counter cyclical adjustment of macro policies, and promoting the overall improvement of economic operation; It is conducive to strengthening the guarantee of resource supply and accelerating the upgrading and development of the industrial system; It is conducive to promoting high-level opening up and forming new advantages in international cooperation and competition.

Wood is an important raw material in the furniture and building materials industry.

With the rapid development of furniture industry in recent years, the use of wood has reached an unprecedented peak, and the global wood resources are sending a signal of shortage. As far as the domestic wood market is concerned, the implementation of the national nature conservation project has reduced the supply of wood suitable for furniture making, so the wood demand of furniture enterprises depends more on foreign markets, Huacheng Import and Export Data Observation Report.

At present, China has become a major importer of timber. As a bulk commodity, timber price changes are affected by various factors such as tariffs, sea freight rates and the prosperity of the real estate market. After the new policy of reducing some timber import tariffs is officially implemented, timber prices may become stable.

With the wind of "the real estate industry is back to the pillar position" blowing around, the furniture and building materials brands will welcome significant advantages such as market boom and cost relief next year, Huacheng Import and Export Data Observation Report.