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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:

Opinions on Expanding Imports to Promote the Balanced Development of Foreign Trade (Guo Fa Ban No. 53 [2018])

Content provided by Picture: HKTDC Research
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