ISLAMABAD -  China's Ministry of Finance (MOF) will adjust tariffs on a number of exports and imports relating to Pakistan. The new plan comes into force on January 1, according to the MOF website. To meet domestic demand, tax rates will be lowered on some imported commodities next year including hydraulic actuators for aircraft. Imports tariff will also be reduced on commodities including tuna and arctic shrimp. Exports tariffs on commodities including nitrogen and phosphate fertilisers will be scrapped and commodities such as steel billet will see reduced export tariffs.

In line with trade pacts, more imports from Hong Kong and Macao will be tariff-free next year, while some commodities from countries including Pakistan will see reduced tariffs. The number of items to be taxed in 2017 will reach 8,547, said the plan.