November 24, 2008 / 1:42 AM / 11 years ago

China to reduce tariffs by 20-30 percent: report

SHANGHAI (Reuters) - China will cut tariffs on agricultural and non-agricultural products by 20 to 30 percent, the China Securities Journal quoted a senior trade official as saying on Monday.

Zhang Xiangchen, the ambassador at the Chinese Permanent Mission to the World Trade Organization (WTO), did not give a time frame or other details.

The average tariff on agricultural products is 15.2 percent, down from 54 percent before China joined the WTO in 2001, the paper said.

The global financial crisis is expected to drag major industrial countries into recession next year, hurting countries, including China, where export revenues are an important source of income.

Reporting by Rujun Shen; Editing by Jonathan Hopfner

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