China reduces duties on imported audio-video products
China's Ministry of Finance has cut import duties on CDs, DVDs and audio cassettes from 17 percent to 13 percent, media outlets reported today.
The move, which came Sept. 15, was not explained in a news release by the ministry, but analysts suspect it was made to boost import levels of foreign goods in yet another bid by Beijing to better balance trade with the West.
High duties for imported audio-video products have raised prices for the goods, angering Western nations who want to sell products to the burgeoning Chinese consumer market. It's also thought that high duties on such products lead to an expanded market for counterfeit goods.