China Medical News

Further to import tariffs on imported drugs being exempted from May 1^st, the State Council decided that China will further cut import tariffs for daily consumer goods starting July 1.

The average tariff rate for detergents, cosmetics such as skin care and hair care products, and some medicine and health products will be cut from 8.4% to 2.9%.  The average tariff rate for clothing, shoes and hats, kitchenware, and sports and fitness supplies will be reduced from 15.9% to 7.1%, and that for home appliances such as washing machines and refrigerators from 20.5% to 8%.  The average tariff rate for cultured and fished aquatic products and processed food such as mineral water will be cut from 15.2 percent to 6.9 percent, according to a statement released after the meeting.

The cabinet called the tariff cuts a move conducive to expanding opening-up, meeting the demands of the people and boosting quality and industrial upgrading.

China will roll out a series of measures to create a fairer, more transparent, and easier investment environment for foreign-funded companies, including relaxing market access, enhancing investment facilitation, and better protecting legitimate interests of foreign investors, said the statement. (Source: Xinhua)