To liberalize trade in China, the government continued to reduce administrative obstacles to trade by adjusting the tariffs and exchange rates. In 2005, the categories of import commodities subject to licensing controls were reduced to three, down from five in 2004 and eight in 2003.
As shown in the commodity chart below for year 2006, machinery and transport equipments made up the majority of the imports,
accounted for USD 357 billion or 45% of total import volume. Next major
imported products were mineral and raw material which took 21%, chemical
products accounted for 11%, steel and non-ferrous metal accounted for 6%, food stuff
accounted for 3%, textile and related products were 2%.
