China Cuts Import Tariffs on 187 Consumer Goods

China has cut import traffic on 187 consumer goods with a provisional tax rate with the average tax rate falling from 17.29% to 7.73%. Among them, the tax rate of “vermouth wine and fresh grapes” fell the most, from 65% to 14 %. Suits, casual suits, electric razors, coffee machines, electric smart toilet seats, and pokok pecan have all been reduced by 15%or more. In addition, special infant formula, baby diapers and diapers have been adjusted to zero tax rate.

To speak of imported goods within the quota, cross-border e-commerce has a price advantage over general trade. In addition to the import duty exemption, value-added tax, consumption tax will enjoy a 30% discount. For imported goods outside the quota, cross-border e-commerce enjoys the same tariff reduction as general trade.

China cut tariffs on import goods to boost investment in China.

The move is designed to encourage consumers to spend more at home rather than on trips overseas.

New Opportunities for Investment in the Midwest Countries

The implementation of the strategy of opening up to the outside world and the large number of foreign investment enterprises have entering into China, and the structure of import and export commodities in Inner Mongolia has been further optimized, and the level of economic and trade cooperation with Russia has been continuously improved.

China’s policy for encourage foreign investment will not change, and the protection of the legitimate rights and interests of foreign invested enterprises will not change, and the direction of providing better services for enterprises in China will not change. “Three will not change” represents China’s basic attitude towards foreign investment.

China’s National Development and Reform Commission, the ministry of commerce issued the catalog of foreign-funded dominant industries of the Midwest region (revised in 2017), further expand the scope of the Midwest regions foreign investment, and to give preferential policies to encourage investment. Foreign investment welcomes new opportunities for industrial transfer and upgrading in China.

For more info – Please feel free to Contact Us to accelerate your business transformation with Jilian Consultants China worldwide Call & WhatsApp : +(86)18721579300 & +(91) 7217885430 us or Contact us – info@ijilian.com

China cut tariffs on import goods to boost investment in China

With the development of the Cross-Border Electronic Commerce (CBEC) and reduction in tariff rate on imported goods, number of high-quality consumer goods from all over the world has increased in China. Meanwhile tariff on import has reduced a lot. With effect from 1st May 2018, the import tariff on 28 drugs, including cancer drugs, was announced to be removed. And the import tariff on cars shall also drop considerably. According to customs department estimate, the 16% VAT rate introduced on May 1 2018, will be reduced by more than 100 billion yuan per year in the import tax, which will eventually be passed on to consumers.

The China international import EXPO will further broaden China’s import dividend in this November. At present, China international import EXPO “6 + 365 days” one-stop trade services platform has been officially launched, this platform will boost global commodity, service, technology smoothly enter the Chinese market, and build a public platform for global trade development.

For more info – Please feel free to Contact Us to accelerate your business transformation with Jilian Consultants China worldwide Call & WhatsApp : +(86)18721579300 & +(91) 7217885430 us or Contact us – info@ijilian.com

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Keywords – import of goods to China, china’s tariffs on import goods, China tariff reduction, china lowers import tariffs, china tariff rates, current tariffs on Chinese imports, tariffs and quotes in china

China cut tariffs on import goods to boost investment

中国将进一步扩大进口

跨境电商等新产业的发展、进口商品关税下调等政策让越来越多来自全球各地的优质消费品进入中国，并且相比之前需要缴纳的关税降低了很多。5月1日抗癌药等28项药品进口关税宣布取消，汽车进口关税也将会有相当幅度下降。根据海关部门测算，仅5月1日起实行的增值税税率下调一项，每年可在进口环节税方面减少超过1000亿元，这些福利将最终传导给消费者。

今年11月将举行的首届中国国际进口博览会，还将进一步释放中国扩大进口的红利。目前，中国国际进口博览会“6天+365天”一站式交易服务平台已经正式上线，这一平台将助力全球商品、服务、技术等顺利进入中国市场，并为全球贸易发展搭建公共平台。

China Foreign investment facilitation in FTZ will gradually expand to the whole country.

The director of the National Development and Reform Commission (NDRC) from the 13th National People’s Congress said that China’s investment will increase this year.

This year, we will further revise the negative list of foreign investment, promote investment facilitation, simplify the procedures for foreign investment enterprises, and constantly improve the policy of attracting investment. Substantial relaxation of market access in improving the investment environment. In 2018, the National Development and Reform Commission will jointly with the departments concerned under the state council to revise foreign investment in the negative list and gradually expand to the whole country which already has been trialed in FTZ. In order to substantially increase the opening level of the service sector, fully liberalize the general manufacturing sector, relax or eliminate restrictions on foreign ownership in some areas, and relax or remove restrictions on business scope.

To simplify the procedures for the establishment of enterprises with foreign investment, promote the one window stop service on business license and commerce record are also parts of it. To simplify the administrative examination and approval of production and management of enterprises, reduce the time of fire control certificate application, EIA, land permission, water electrical connection, import and export clearance time etc. In order to promote fair competition between foreign-funded enterprises and domestic enterprises, the protection of intellectual property rights of foreign enterprises and the legitimate rights and interests of foreign enterprises shall be protected and the basic laws of foreign capital shall be formulated.

It will also attract foreign investment this year to increase the widening of opening up in western region, inland areas, border areas. Meanwhile, to the central and western regions, northeast region transfers of foreign-invested enterprises enjoy national support industrial transfer and processing trade of funds, land and other preferential policies.

For more info – Please feel free to Contact Us to accelerate your business transformation with Jilian Consultants China worldwide Call & WhatsApp : +(86)18721579300 us or Contact us – info@ijilian.com

Joint Venture Registration in China / China JV formation

A Joint Venture (JV) is a foreign invested enterprise (FIE) that is incorporated by foreign and Chinese investors, who will share the profits, losses and management of the company together.

Compared with WFOE, joint venture is a joint capital from Chinese companies and foreign companies or people. Till right now, Chinese individual are not allowed to incorporate a joint venture. Joint venture is still treated as a foreign company, not a Chinese company.

The procedure is very similar with WFOE, only difference is we require for all the documents of the Chinese company, such as business license, board meeting and so on.

Jilian Consultants – Best Consultancy for  China Joint Venture Registration | JV Formation China !

1. Foreign company shareholder required info

• Copy of foreign shareholder’s business license, six copies, stamped and signed, translated, legalized by local Notary and Chinese consulate.
• Translation Company’s business license copy, stamped and signed, six copies.    (Advice you to choose Chinese translation company, otherwise you need to legalize translation company license)
• Shareholder’s bank reference letter, two originals, two translations

2. Chinese shareholder required info

• Chinese company business license, copies of original and duplicate, each four copies, two of them stamped.
• Organization of code certification, copies of original and duplicate, each four copies, two of them stamped
• Tax register certification, copies of original and duplicate, each four copies, two of them stamped