China Constantly Adjusts Tariff Policy To Meet The Needs Of Consumption Upgrading, And Dividends From Tax Reduction Are Gradually Emerging.

In 2018, China's tariff rate continued to decline, involving many areas related to people's livelihood. With the advent of tariff reduction dividends, consumer demand for consumer escalation has been continuously satisfied.

The fall of tariffs has released the positive signal of China's expansion of imports, and the first China International Import Fair (hereinafter referred to as the "Expo") as the world's first "import" as the theme of the national exhibition, its success has demonstrated our determination to continue to expand imports.

Since May 1, 2018, China has adjusted the import tariffs of some drugs, abolished the import tariffs of all 28 drugs, including all anti-cancer drugs, alkaloids, and imported Chinese patent medicines.

Since July 1st, the import tariff of vehicle parts and components has been reduced. The tax rate of 4 vehicles with vehicle duty rate of 25% and 135 tax rate of 20% has been reduced to 15%. The tax rate of vehicle parts tax rates of 8%, 10%, 15%, 20% and 25% has been reduced to 15%.

Since July 1st, the most favored nation tariff rate of some imported consumer goods has been reduced, which involves 1449 tax items. The average tariff rate of import duty on clothing, shoes, hats, kitchens and sports fitness products has been reduced from 15.9% to 7.1%; the average tariff rate of import tariffs on washing machines, refrigerators and other household appliances has been reduced from 20.5% to 8%; the average tariff rate for imported processed food such as aquaculture, fishing aquatic products and mineral water has decreased from 15.2% to 6.9%; the average tariff rate of imported products for washing products, cosmetics, skin care, hair salons, and some medical and health products has decreased from 8.4% to 2.9%.

Cao Lei, director of the electronic commerce research center, said that with the time of tariff reduction, the general import trade and the cross-border electricity supplier could better divide the work, and the online and offline businesses could join the "cake" of the import market together to meet the consumer's upgrading needs.

Since November 1, 2018, China has reduced the import tariff rate of 1585 items of taxable items, such as industrial products.

This is followed by the 1449 tax items commodity tax cuts in July 1st, the State Council has a larger number of tax cuts, 1585 tariff items import tariff rate will be reduced, the total tariff level of China will be reduced from 9.8% in 2017 to 7.5%.

Zhao Ping, director of the Department of international trade research of the China Council for the promotion of trade, said that as a developing country, tariff level has been declining continuously since China joined the WTO.

At the beginning of 2018, China's average tariff rate was 9.8%, which has dropped by more than 5 percentage points before China's accession to the WTO.

In January 4th, Shandong Qingdao bonded port area Kai Ji import merchandise outlets, the public is shopping for imported goods.

Since January 1st, after the implementation of the import provisional tariff rate for more than 700 commodities, the prices of some imported commodities have decreased significantly. The imported goods outlets also adjusted the prices of some imported commodities from the same day, and increased the intensity of sales promotion. The discount rate was about 10%-20%.

Zhong Yanming photo

In from November 5 to 10, 2018, the Expo, with the theme of "new era and sharing the future", was successfully held in Shanghai.

172 countries, regions and international organizations from five continents attended 3617 exhibitors, and about 800000 entered the hall to discuss procurement and visiting experience, with a turnover of US $57 billion 800 million.

President Xi Jinping said at the opening ceremony of the Expo, "China will further reduce tariffs, improve the level of customs clearance, reduce the institutional cost of import links, and accelerate the development of new modes of cross-border e-commerce and other new formats".

The Expo will undoubtedly release signals to further expand imports and lower tariffs.

According to the analysis of the industry, if the tariff reduction is to reduce the "hard cost" of imports, the Shanghai Fair will set up an exchange platform to reduce the institutional paction costs of imports.

Between "hard" and "soft", China's policy of expanding imports is very active and clear.

The expansion of imports can meet the demand of our consumers for higher quality goods and services, thus promoting the upgrading of domestic industries and the adjustment of economic structure.

Our country is pforming from an export oriented country to a balanced import and export country. The expansion of import scale can not only re balance the economic and trade relations between China and the world, but also boost the growth and upgrading of China's economy.

Liu Yingkui, director of the International Investment Research Institute of the China Council for the promotion of international trade, said that trading is only the first step. Based on the expansion of imports, the fair is also a platform for global economic and trade cooperation.

Through holding the fair, we can reduce some countries' trade deficit with China, optimize China's trade environment, and further strengthen economic and trade cooperation with other countries.

With the increasing scale of cross-border electricity providers, cross-border electricity providers have brought different impacts to the retail trade, customs supervision and tax administration of importing countries, which has also attracted worldwide governments' attention.

Among them, tax has become the "sword of Damour and Chris" hanging on the cross border electricity supplier's head. Many western countries are considering Taxation on cross-border electricity suppliers.

In 2018, the scale of cross-border e-commerce pactions in China grew steadily, all kinds of favorable policies continued to be overweight, and trade compliance, regulatory compliance, market compliance and fiscal and taxation compliance issues gradually became "sunshine".

Financial and tax compliance mainly includes the financial standardization of cross-border enterprises and the tax standardization of relevant countries, and the standardization of cross-border electricity supplier taxation plays an important role in promoting the development of cross-border electricity supplier industry.

In August 2018, the State Council approved the establishment of a cross border e-commerce comprehensive pilot area in 22 cities such as Beijing, and set up a pilot Free Trade Zone in China (Hainan).

So far, the number of China's cross border e-commerce comprehensive pilot area will increase from 13 to 35, basically covering the main line and second tier cities, and cross-border electricity providers will begin to expand from the Pearl River Delta to the Yangtze River Delta, and even to the Midwest and the north.

In September 2018, the circular on the tax policy on retail export commodities in the comprehensive experimental area for cross border e-commerce was released. The goods exported by the e-commerce exporting enterprises in the comprehensive examination area failed to obtain valid receipts, while the relevant conditions were met, and a vat and consumption tax exemption policy was put into practice.

In November 2018, the circular on improving the tax policy on retail import of cross border e-commerce announced that the value of 63 tax items added to the mass demand of the masses increased from 2000 yuan to 5000 yuan, increasing the annual paction limit from 20 thousand yuan per person to 26 thousand yuan per year.

Industry experts believe that under the influence of Sino US trade friction, the national policy has been making frequent efforts, not only improving the domestic cross-border electricity supplier industry regulations, but also strengthening the confidence of cross-border electricity supplier sellers.

With the standardization of the global cross-border electricity supplier environment, keeping pace with the times will not lag behind, favorable policies, and gradually improved industry rules, so that domestic sellers will have a relative sense of security under the environment.