June 30 from the Ministry of Finance was informed that: according to the "Mainland and Hong Kong on the establishment of closer economic and trade relations arrangement" and "Mainland and Macao on the establishment of closer economic and trade relations arrangement" and its supplemental agreement, the State Council Customs Tariff Commission decided to the new completion of the negotiations on the standard of origin of the 6 Hong Kong-origin goods and 27 Macao-origin commodities, from July 1, 2017 onwards to implement the zero tariff. Cumin seeds, ground; aniseed, ground; fennel, ground; ginger, ground; copra, dried; vegetable waxes, whether or not refined or coloured; cocoa-powder, whether or not refined or coloured; cocoa-powder containing sugar or other sweetening matter; peanut-butter; water, other; iced grape sparkling wine; diamonds, non-industrial (not roughly worked or otherwise simply sawn, cleaved or roughly polished, not set); diamonds, non-industrial; precious or semi-precious stones (other than diamonds), not worked or otherwise simply sawn or roughly polished; diamonds, non-industrial (except for diamonds); diamonds, non-industrial (except for diamonds) ) or semi-precious stones, rubies, sapphires, emeralds, emeralds otherwise worked, crystals otherwise worked.
Zero tariff means that when imported or exported goods pass through the customs territory of a country, the customs office set up by the government does not levy tariffs on the importing or exporting country. For example, mainland China will implement zero tariff on some commodities originating in Hong Kong and Macao, China under CEPA since July 1, 2009 respectively.In March 1997, more than 40 WTO members reached the Information Technology Agreement, which covers six categories of products such as computer equipment and parts, communication equipment, semiconductor equipment and parts, software, scientific instruments, etc., and the tariffs on these products were reduced to zero in three phases. Reducing tariffs on these products to zero in three stages. Developing countries to achieve zero tariffs can be delayed accordingly, but the latest January 1, 2005 must be all products within the agreement tariffs to zero.
Zero tariffs have a direct impact on selling prices. Normally, tariffs are generally calculated as the cost of the seller, so when the tariffs are zero, this can reduce the cost of the seller, and then the final selling price is also reduced, so that the people to buy imported products can be more affordable than the original.