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Prices of imports to be lowered

“The Ministry of Finance announced adjustments on import tariffs. This will help enterprises reduce the cost and import more goods. So, people can buy imports of lower prices and better qualities.” Mr. Qiu, an executive from one import corporation of Ningbo, said on May 25th at the news of adjustments on import tariffs. He added that some products, especially some livehood products, were introduced to Ningbo. 

  The decline of import tariffs on diapers ranked the first among all the imports. The import tariff on diapers was lowered to 2% from 7.5%.  

  1006.6 tons of baby diapers, equaling to 50.485 million yuan, were imported into Ningbo from January to April which increased by 1.6 times and 1.5 times respectively compared with the same period of the previous year, said Ningbo Customs. 983.5 tons of products were imported by private enterprises, which amounted to 97.7% of the total volume of imports and increased by 1.6 times when compared with the same period of last year. Products were mainly imported. 863.5 tons of products were imported, which amounted to 85.8% of total imports and increase by 1.4 times when compared with the same period of last year. 991.9 tons of baby diapers were imported from Japan from January to April, which amounted to 98.5% of the total volume of imports and increased by 1.8 times when compared with the same period of last year.

  According to in-group sources, the prices of the imported diapers will be lowered after the adjustments on import tariffs while the quantity will increase. However, the price of diapers are more susceptible to the impact of exchange rates of Japan and the price differentials when traders purchasing abroad. The new policy of import tariff will come into effect on May 1st, but it will also take some time before exerting influences. So, people should be patient before the inventory are sold by the importers.

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