Spokesperson of the Ministry of Commerce: tariff cuts favor high-quality imports
Jan 15, 2020 ｜ by CT
At a regular press conference on December 26, a spokesman for the Ministry of Commerce Gao Feng said that the reduction of import tariffs is a concrete measure for China to further open its market and will help expand imports of relevant high-quality products.
Gao Feng said that further reduction of import tariffs will reduce the cost of imports, stimulate the potential of imports, and meet domestic consumer demand for high-quality products. The Ministry of Commerce will focus on actively expanding imports from three aspects. On the one hand, it will cultivate a number of import trade demonstration zones for innovation. “We will give play to our policy advantages, encourage innovation in the regulatory system, service functions, and trading models. By fostering import and export distribution centers, we will promote the construction of import trade innovation platforms and continuously improve the radiative role of demonstration areas.” Gao Feng said. On the other hand, the level of trade facilitation will be further improved. Actively promote the full implementation of the WTO Trade Facilitation Agreement. At present, the implementation rate of the Agreement has reached 96.2%. The remaining measures will be fully implemented by February 22, 2020, and the level of trade facilitation will be further improved. In addition, the platform promotion effect of China International Import Fair will be further enlarged. At present, the preparations for the Third China International Import Fair are being carried out in an orderly manner. More than 300 companies have signed up for the exhibition and the exhibition area exceeds 100,000 square meters.
In addition, Gao Feng said that a certain degree of fluctuation in China’s foreign direct investment is the result of a combination of factors and is a normal trade and investment.
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