Duty reductions aim to increase consumption
China's decision to lower tax rates on a range of goods carried or mailed by individuals into the country is part of a new push to boost imports and consumption and to ensure the public sees the benefits of tax cuts, a senior official said on Tuesday.
Starting Tuesday, duties on inbound articles including books, computers, food, furniture and medicines was reduced from 15 percent to 13 percent, while the tax rate on textiles and electrical appliances will be trimmed from 25 percent to 20 percent, the Customs Tariff Commission of the State Council said in a statement.
Zou Jiayi, vice-minister of finance, said at a news briefing that the latest round of tax reductions focuses on goods closely related to daily life and is intended to deliver a concrete sense of gain to the people.