China to open up its import tariff and importation policies for consumer products

May 2015

China has been gradually opening up its import tariff and importation policies for commodities in recent years. A number of pilot policies have achieved remarkable results, bringing unprecedented opportunities to the retail and consumer industry. In this Article, we summarise the new policies and measures to provide our observations on the impacts and recommendations to industry players. The new policies and measures include:
  • Reduction of tariff rates and consumption tax reform
  • Establishment of more tax refund shops for overseas tourists
  • Promotion of cross-border e-commerce B2C and O2O businesses
  • Promulgation of four pilot free trade zones to advocate trial policies
  • Adoption of more user-friendly customs declaration and commodity examination procedures