The island of Hengqin in south China's Guangdong Province started a new customs operation on 1st of Mar, that allows most goods to be moved there tax-free from the neighboring Macao Special Administrative Region (SAR).
Analysts said the ruling has again sent a clear message that the U.S. violated WTO trade rules. The decision also boosts global confidence in the multilateral trading system's authority.
The total value of trade between China and the other 14 members reached 10.22 trillion yuan in 2020, accounting for 31.7 percent of the world's total in the same period.
In 2022, China will eliminate tariffs on 24.9 percent of imported goods from Japan, and about 55.5 percent of Japan's imports from China will be tariff-free.
China's overall tariff level was 7.4 percent in 2021, as the country took multiple measures to facilitate its trade sector, according to the Ministry of Commerce (MOC) on Thursday.