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State Council: July 1 Further Reduce Import Tariffs On Daily Consumer Goods

Jun 04, 2018

State Council: July 1 further reduce import tariffs on daily consumer goods

The meeting decided that starting from July 1 this year, the average tariff rate on imports of clothing, shoes, hats, kitchens and sports and fitness products should be reduced from 15.9% to 7.1%.

Premier Li Keqiang of the State Council presided over the executive meeting of the State Council on May 30 to determine measures for further active and effective use of foreign capital, promote the opening up of the country to promote economic upgrading, and decide to lower import tariffs on consumer goods in daily terms to better meet the diverse consumer needs of the people; Establish a rehabilitation and relief system for disabled children and give them more help and care.

The conference pointed out that in accordance with the arrangements of the Party Central Committee and the State Council, we must create a more fair, transparent, and convenient foreign investment environment, promote the formation of a new pattern of openness, and strive to maintain China's status as a major destination for global foreign investment. The meeting decided: First, to relax market access. The implementation of the commitments to cancel or relax restrictions on foreign investment in manufacturing industries such as automobiles, ships and airplanes has been implemented. We will improve the system of qualified foreign investors, actively introduce foreign traders to participate in futures transactions such as crude oil and iron ore, and support foreign financial institutions in participating in the underwriting of local government bonds. The second is to raise the standard of international investment promotion. The revision of the negative list of foreign investment approvals will be completed before July 1 this year. The establishment and change of foreign-funded enterprises with a total investment of less than US$1 billion in the list are delegated to the provincial government for approval and management. Simplify the work permit procedure for foreign talents coming to China. A registered company in China will employ qualified foreign talents to obtain visas within two working days. The third is to protect the legitimate rights and interests of foreign capital. We strictly crack down on infringement and counterfeiting, infringement of commercial secrets, and malicious registration of trademarks, and drastically increase the upper limit of statutory compensation for intellectual property infringement. The fourth is to strengthen the role of an important platform for the use of foreign investment in national-level development zones and to stimulate the use of foreign capital. Fifth, we must improve and make good use of credit, land use, and social security support policies to reduce business operating costs. Guide foreign capital to invest more in the central and western regions and modern agriculture, ecological construction, advanced manufacturing, and modern service industries.

The meeting pointed out that further reducing the import tariffs on daily consumer goods will help expand the opening up, meet the needs of the people, and force products to upgrade quality and industrial upgrading. The meeting decided that starting from July 1 this year, the average tariff rate on import of clothes, shoes, hats, kitchens and sports and fitness products should be reduced from 15.9% to 7.1%; the average import duty rate on household appliances such as washing machines and refrigerators should be reduced from 20.5%. 8%; The average tax rate for import tariffs on processed foods such as farmed products, fishery products for aquatic products, and mineral waters fell from 15.2% to 6.9%; the average import duty on detergents, skin care, hairdressing and other cosmetics and some medical health products was 8.4. % dropped to 2.9%. Relevant departments must implement tax reduction measures to prevent profit-sharing for intermediate links, benefit consumers, and boost the competitiveness of domestic industries.

In order to better protect the rights of disabled children and promote social civilization and progress, the meeting decided to establish a rehabilitation and relief system for children with disabilities. From October 1 this year, they will be able to meet sights, hearing, speech, body, and intelligence for 0-6 years of age. Disabled children and autistic children, including families with financial difficulties, disabled children adopted by welfare agencies, and orphans with disabilities, provide assistance in surgery, assistive device placement, and rehabilitation training. Relief funds are included in the budget of local governments at and above the county level, and the central government provides appropriate subsidies. By 2020, basically children with disabilities will be rescued.