China Cuts Import Tariffs on 187 Consumer Goods
China has cut import traffic on 187 consumer goods with a provisional tax rate with the average tax rate falling from 17.29% to 7.73%. Among them, the tax rate of “vermouth wine and fresh grapes” fell the most, from 65% to 14 %. Suits, casual suits, electric razors, coffee machines, electric smart toilet seats, and pokok pecan have all been reduced by 15% or more. In addition, special infant formula, baby diapers and diapers have been adjusted to zero tax rate.
To speak of imported goods within the quota, cross-border e-commerce has a price advantage over general trade. In addition to the import duty exemption, value-added tax, consumption tax will enjoy a 30% discount. For imported goods outside the quota, cross-border e-commerce enjoys the same tariff reduction as general trade.
The move is designed to encourage consumers to spend more at home rather than on trips overseas.