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Happy December – and from 1 December lower import taxes in China
The Chinese economy has achieved a significant growth boost per 1 December, when the Chinese government has lowered the tax on a large number of imported consumer goods.
Which products are included?
The list counts almost 200 products and applies to items in these categories .:Food, supplements, medicines, cleaning products, clothes, footwear, household appliances and other household items.
The Chinese economy is under development
The lower taxes are partly a response to a larger consumer demand for foreign imported goods. The purpose is to create more growth in the consumer market as part of the government’s restructuring of the country’s economic model, which has so far been based on low-cost production and export.
Great potential for foreign businesses
The tax changes will certainly benefit foreign companies, who wish to sell their products in China. They will now be able to sell their goods at a cheaper and more competitive price compared to the Chinese market’s current alternatives.