ANNOUNCEMENT 20 Mar 2020
March 20th, 2020 - The Chinese finance ministry announced the expansion of a preferential import policy.
NUMBER OF INTERVENTIONS
PRC Ministry of Commerce, March 20th, 2020. (财关税〔2020〕6号 关于取消陆上特定地区石油（天然气）开采项目免税进口额度管理的通知)
Alternate link from Hebei Province MOFCOM:
On March 20th, 2020, the Chinese finance ministry released Cai Guan Shui 2020/6 (hereafter, 'Announcement'), which amended the rules surrounding a preferential policy applying to firms in the terrestrial oil/gas exploration sector.
The Announcement stated that quotas on tax-free equipment imports made under the scheme, which had started in 2016 (see related act), were to be waived immediately, not limiting the amount of equipment allowed to be imported free of duties.
HS codes are taken from the original 2016 policy announcement.
In March 2020, the Chinese finance ministry removed quotas on tax-free imports of certain goods for firms in the terrestrial oil/gas exploration sector.
As the policy de facto applies to Chinese firms only, the removal of tariffs constitutes an further discriminatory tax treatment for other firms in the sector, hence the red GTA rating of this intervention.