(MENAFN) The customs in north China's Tianjin Municipality announced that it has reduced and exempted tariffs totaling 2.9 billion yuan in 2018.
The customs conducted 22.5 billion yuan of imported products and cut about 1.5 billion yuan of tax the whole year, partially lowering the prices of imported goods for local consumers.
As for exports, the customs supported around 2,200 companies in acquiring tariff concession worth about 1.4 billion yuan.
The mainly exported products included mechanical and electrical products, chemicals and steel products.
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