On Jan 11, 1994, the State Council announced the "Decision on further deepening the reform of foreign trade" and put forward that the tasks of China's foreign trade system reform are: aligned policy, open management, equal competition, self-responsibility for profits/loss, industry and trade integration, implementation of agency system, and, establishment of the operating system that fits the international economic rules.
On April 1, 1996, China cut down import tariff substantially for more than 4000 kinds of commodities and the general tariff level down by 23%.
By People's Daily Online
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