CHINA

Some Import Duties to Be Lifted: China will reduce import tariffs on 3,371 items--including crude oil, airplanes and computer software--on Dec. 31, the official news agency Xinhua reported. The move appeared part of China’s efforts to meet conditions for membership in the General Agreement on Tariffs and Trade, the international forum that seeks to reduce barriers to trade. China has said that it hopes to be admitted to GATT early next year, but Western economists say the country China will have to do away with more tariffs. Xinhua said the reductions affect 54% of all items subject to import duties. China has maintained an array of import barriers to protect domestic industries.