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February 6, 2020updated 13 Feb 2020 10:54am

Coronavirus: China boosts medical supplies imports, cuts tariffs

The Ministry of Commerce of China has issued a notification on the expansion of imports of medical supplies and daily necessities to fight the ongoing coronavirus outbreak in the country.


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The Ministry of Commerce of China has issued a notification on the expansion of imports of medical supplies and daily necessities to fight the ongoing coronavirus outbreak in the country.

As of the end of 5 February, health officials have confirmed 28,275 cases worldwide, including 28,049 confirmed cases in China. According to the National Health Commission (NHC), 24,702 people are suspected to have been infected in mainland China.

To ensure domestic supply, local commerce departments have been advised to expand imports to epidemic prevention and control. The government is looking to boost imports of medical supplies and raw materials for production.

The Ministry has provided details regarding 51 medical suppliers or supply channels in 14 countries and regions to local commerce departments.

China cuts tariffs on US goods

China has decided to reduce tariffs on US goods worth approximately $75bn from 14 February. The country is decreasing the original 10% tariff, applied in 2019, to 5% on some goods. On some other goods, the rate will be adjusted to 2.5%.

In a statement, Ministry of Finance said: “China hopes that both parties can abide by the agreement, strive to implement the relevant content of the agreement, strengthen market confidence, promote the development of bilateral economic and trade relations, and promote world economic growth.”

Earlier this month, the State Council Tariff Commission said that the reduction in tariffs is meant to prevent and control pneumonia epidemic of coronavirus.

Related Companies

Free Whitepaper
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What is the impact of China’s Zero-COVID lockdowns on economic activity, consumer goods and the foodservice industry?

While wanting to protect the country from being overwhelmed by Omicron, China’s adherence to a Zero-COVID policy is resulting in a significant economic downturn. COVID outbreaks in Shanghai, Beijing and many other Chinese cities will impact 2022’s economic growth as consumers and businesses experience rolling lockdowns, leading to a slowdown in domestic and international supply chains. China’s Zero-COVID policy is having a demonstrable impact on consumer-facing industries. Access GlobalData’s new whitepaper, China in 2022: the impact of China’s Zero-COVID lockdowns on economic activity, consumer goods and the foodservice industry, to examine the current situation in Shanghai and other cities in China, to better understand the worst-affected industry sectors, foodservice in particular, and to explore potential growth opportunities as China recovers. The white paper covers:
  • Which multinational companies have been affected?
  • What is the effect of lockdowns on foodservice?
  • What is the effect of lockdowns on Chinese ports?
  • Spotlight on Shanghai: what is the situation there?
  • How have Chinese consumers reacted?
  • How might the Chinese government react?
  • What are the potential growth opportunities?
by GlobalData
Enter your details here to receive your free Whitepaper.

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