China will cut import taxes on a range of goods including food and drug items, as it seeks to curb inflation and help victims of this month's earthquake, state media said Thursday.
Tariffs on frozen pork will be cut to six percent from 12 percent between June 1 and Dec. 31, the Shanghai Securities News reported, citing the finance ministry.
Taxes on cod fish, baby foods and high-quality cotton will be reduced, and the government will stop an import tariff on medical items including some blood serum products and human vaccines for six months from June 1. The government statement did not say how big a percentage of China''s total imports would be affected by the tariff reductions.
The action is to help in the earthquake relief work and alleviate the short supply of some foods and cotton. Some 88,000 people are dead or missing since the May 12 quake, another 15 million people are displaced.
Officials are concerned the earthquake would put upward pressure on inflation, which rebounded to 8.5 percent in April after hitting a near 12-year high of 8.7 percent in February but weakening to 8.3 percent in March.