On September 19, the Chinese government website released a message that the "Amendment of the People's Republic of China to the World Trade Organization Tariff Schedule" has been approved by the State Council and was approved by the Standing Committee of the 12th National People's Congress on September 3, 2016. The twenty-second meeting decided to approve.
With the import tariff policy entering the adjustment period, the domestic mid-to-high-end medical device market, which has been dominated by overseas companies, has once again ushered in a change.
On September 19, the Chinese government website released a message that the "Amendment of the People's Republic of China to the World Trade Organization Tariff Schedule" has been approved by the State Council and was approved by the Standing Committee of the 12th National People's Congress on September 3, 2016. The twenty-second meeting decided to approve.
The reporter noted that according to the relevant trade policy, since September 15, 2016, some medical devices involved in this tax reduction include B-type ultrasonic diagnostic apparatus, electrocardiograph recorder, color ultrasonic diagnostic apparatus, patient monitor, and audiometer. More than 30 kinds of pacemakers, etc., the tariff reduction is up to 1.5 percentage points. Import tariffs on most of these products will fall to zero in the next three or five years, and tariffs on small quantities will fall to zero in the next seven years.
The medical equipment involved in this tariff reduction is mostly high-end products. In China's high-end medical device market, due to technical restrictions, it is still mainly imported. Although domestic and foreign companies have not yet faced a confrontation, the localization of medical equipment and the breakthrough of domestic enterprises in high-end market monopolies have become policy and market trends.
After the start of the tariff adjustment period, Chinese and foreign companies will be at the same starting line in the future. Domestic enterprises will face more challenges in breaking the current pattern of the mid-to-high-end market. The future changes in the domestic medical device industry are highly concerned by the industry.
A domestic brokerage pharmaceutical industry researcher analyzed the reporter's opinion that some domestic enterprises lack core patents, product coverage is insufficient, and there is no positive competition with imported instruments. It still takes time for domestic enterprises to enter the middle and high-end fields.
More than 30 kinds of medical equipment tariff reduction
Recently, the State Council Customs Tariff Commission issued a notice to implement the first tax reduction for the MFN rate for 201 information technology products listed in the Schedule to the above amendments from September 15, 2016. These products correspond to more than 480 tax numbers in China's taxation, including a new generation of multi-component integrated circuits, touch screens, semiconductors and their production equipment, audio-visual products, medical equipment and instrumentation, special spare parts and raw materials required for the production of information technology products. .
The tax reduction is to implement the outcome of the negotiations on expanding the scope of information technology agreement products under the framework of the World Trade Organization. On December 16, 2015, 24 participants including China jointly issued the Ministerial Declaration on Expanding Trade in Information Technology Products in Nairobi, Kenya, clarifying that each participant should constrain and gradually eliminate tariffs on 201 products.
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