China cut import tariffs on 187 consumer goods

china cut tariffs on 187 consumer goods

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.

China cut tariffs on import goods to boost investment in China.

The move is designed to encourage consumers to spend more at home rather than on trips overseas.