Beijing, June 1 (TNS): China has announced to cut import duty about 1,500 consumer products ranging from cosmetics to home appliances, from next month.
According to Chinese Finance Ministry, the cut on imports duty is to further open up the economy.
The Ministry said that China will take steps to increase imports, and offers a boon to global brands looking to deepen their presence in China. The move would be in step with china’s pledge to its trade partners including the United States.
The finance ministry published a detailed list of products affected and their new reduced tax rates on Thursday, following early announcements of the broader plan.
