China to cut import tariffs on consumer goods from July 1
  • 6 years ago
China will cut import tariffs on a range of consumer items starting July 1st.
The decision was announced on Wednesday after a state council meeting led by Chinese Premier Li Keqiang.
The tariff cut will be applied to items such as cosmetics, home appliances, and fitness products.
The move aims to further open up China's consumer market and force its industries to upgrade and boost their competitiveness.
In December, China slashed import taxes on almost 200 consumer products to seven-point-seven percent on average from 17-point-three percent.
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