The
import sector in China is about to suffer some changes in terms of taxes, starting with November the 1st. Approximately 1,590 tariff code categories will be cut, representing 19% of the total number of
taxed import products in China. The decision is meant to push the opening-up process of the economic globalization, a matter in which
China is extremely interested. In matters of
company formation in China, we invite foreign investors to address their requests to our
team of company formation representatives in China for complete assistance.
The import categories which will suffer tax modifications
Raw materials and products, textiles, electromechanical equipment, medicines, daily consumer products, vehicles, and equipment are among the categories of products for which the tariffs will go down from 9.8% to 7.5%. The Chinese government decided to implement such an important measure hoping that the new policies will lead to a well-adjusted development in the
trading sector in China. The authorities in
China are debating at the moment the ways in which the new policies can apply for China-USA trading activities.
Foreign investors looking to
incorporate a company in the import and export sector in China can solicit the support of our
company formation specialists in China who can guide them on how to
open a WFOE in China.
The industrial upgrading process will be sustained by the new policies
The decision of cutting the tariffs for the imported items in
China was made with the idea of supporting the economic globalization, a phenomenon in which
China is very much interested. Sustaining the philosophies of free transactions, plus the joint trade system created with the rules imposed by the World Trade Organization,
China considers that industrial upgrading process will be facilitated.
Cutting tariffs for technological equipment from abroad is definitely the solution for many important industries in
China which need comprehensive support. According to the Chinese authorities, the production costs can be reduced once the tariffs will go down a few points, leading to the expansion of ecologically responsive commerce in China.