China will reduce import tariffs on hundreds of goods next week as it tries to boost trade, shore up its slowing economy and soften the impact of a devastating swine fever epidemic.
The Chinese government announced Monday that it would lower import duties on frozen pork, semiconductor parts and more than 800 other items ranging from consumer goods to high-tech products. The rollbacks begin January 1. China's economy has taken hits from all sides this year. Domestic demand has slowed, debt levels are mounting and the prolonged trade war with the United States continues to take its toll.
Monday's announcement came one day after Beijing announced 28 new measures to step up support for the country's struggling private sector, including bigger tax cuts and easier access to bank loans. The private sector is crucial to China's growth, but its companies face more funding difficulties than their state-owned peers.China's trade relationships with other countries are also a consideration.
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