China to cut tariffs on consumer goods
China will further reduce tariffs on consumer goods, including food and infant formula, in the third cut since 2015.
Effective next month, the average import tax on some food, health products, medicine, daily chemicals, clothing, footwear, and other products will drop to 7.7 percent from 17.3 percent, the Ministry of Finance (MOF) said Friday in an online statement.
Some types of baby milk powder and diapers will have zero tariffs, according to an MOF list. Woolen overcoats and some seafood will also see substantial drops in tax rates.
A total of 187 products will be covered.
The statement said the reduction focuses on quality and certain products that cannot be produced at home, allowing for more consumer choice and prompt upgrades of the domestic supply system.
The government has been encouraging imports of consumer goods to meet increasing domestic demand.
Tariffs of nearly 300 types of articles of everyday use have gone down during the past two years. Fiscal and financial measures have also been rolled out to stimulate imports.