24 July 2018
China Looks to Proactively Boost Level and Range of Imports
As part of moves to readjust the country’s balance of foreign trade, the State Council has announced a series of measures designed to boost import levels:
Upgrading Production and Consumption
In order to deliver on this, import tariffs are to be cut on a range of items deemed to be necessities for everyday life. Among the qualifying items are daily consumer goods, medicines and rehabilitation / elderly care equipment.
Broadening Import Sources
This will see cooperation stepped up with many of the countries along the routes of the Belt and Road with the aim of using them as key sources for an expanded range of imports.
Diversifying Trade Channels
As well as making a sustained effort to ensure the success of the China International Import Expo – the 5-10 November Shanghai-hosted showcase of brands from across the world – the greater interaction of foreign trade and foreign investment will be prioritised. At the same time, an innovative approach will be taken to import trade formats, while the widespread adoption of many of the cross-border e-commerce practices successfully trialled in the Pilot Free Trade Zones will be accelerated.
Trade Liberalisation and Facilitation
In addition to nurturing the development of import promotion platforms, customs import clearance procedures are to be streamlined, while every effort will be made to clamp down on the import of counterfeit and substandard goods in a bid to improve overall market regulation.
For further details (in Chinese), please visit the following link: