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Import taxes 'will be cut' this year (2)

By Ding Qingfen (China Daily)

08:13, March 07, 2012

The Ministry of Finance announced last year it would lower import tariffs on more than 600 goods, including consumer goods.

"It is good, but far from enough. A wider range of goods needs to be included and a larger percentage of tariffs need to be cut," Wei said.

"Authorities, including the Ministry of Finance and the General Administration of Customs, should be more active on the issue."

The Ministry of Commerce has been active over the last year in promoting imports of middle and high-range consumer goods.

Officials from the ministry said a reduction in import taxes on consumer goods, including luxury items, will come, however, consensus has been difficult to reach.

"They should all push for it," Wei said.

"This is good for China and consumers and will also help the nation fend off trade friction with its trade partners."

Statistics from the Ministry of Commerce showed five categories - watches, suitcases, garments, liquor and electronics - are priced 45 percent higher in the mainland than in Hong Kong, 51 percent higher than the United States and 72 percent higher than France.

But, in response to a proposal from the CPPCC National Committee representative made last year, the Ministry of Finance said in a statement on Monday that import tariffs, on average, on the five categories, are low among emerging markets.

【1】 【2】


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