A set of legal and policy measures took effect in China on Wednesday as part of the country's efforts to advance high-quality development and opening-up.
The measures include the country's first energy law, a new regulation on data security, tariff cuts on a large number of imported goods and a free trade agreement between China and the Maldives.
The energy law aims to promote high-quality energy development, ensure national energy security, accelerate green transition and support the country's efforts to achieve its carbon peak and carbon neutrality goals.
To boost data security, the new regulation on network data security management seeks to regulate network data processing, protect the legitimate rights and interests of individuals and organizations, and safeguard national security and public interests.
Wednesday also saw a reduction in import tariffs on many goods, with an aim to improve the importation of quality products and expand domestic demand. Provisional import tariffs, which are lower than the most-favored-nation rates, will be applied to 935 commodities as part of an annual tariff adjustment plan.
Meanwhile, producers of most of the industrial goods that China exports to the Maldives, including ships, electrical equipment and furniture, besides agricultural products such as fruits and vegetables, can now benefit from the China-Maldives Free Trade Agreement that has taken effect. In turn, there are now no tariffs imposed on most of the Maldives' aquatic exports to China.
