China's import taxes to be lowered in 2012

Note: This section contains information in English only.
Source: Dukascopy
China will cut taxes on various consumer goods this year, said Wei Jianguo, a former deputy commerce minister. The move will enable stimulating domestic consumption that is the primary aim of the government, he added. The tax reductions are likely to be done in two rounds and will cover wide range of luxury and consumer goods. However, Ministry of Finance claimed that China already has low taxes as compared to many emerging markets.

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