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China to lower import taxes to balance trade
By Wang Yanlin |
June 7, 2012, Thursday
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Online Edition
Online Edition
CHINA will lower import taxes and provide importers more financing to bolster purchases from overseas, Vice Premier Hui Liangyu said today.
"It is in a bid to balance trade," Hui said without giving details.
A document issued in April by the State Council said China may use temporary rates to tax some energy and raw material products from overseas, and cut duties of imports closely related with people's daily life later this year.
It also said adjustments may be made in import tax rates of some advanced machinery and key machinery parts to meet domestic market demand.
China's imports increased a weaker than expected 0.3 percent in April. It compared to 5.3 percent in March and contrasted sharply with February's 39.6 percent surge.
"It is in a bid to balance trade," Hui said without giving details.
A document issued in April by the State Council said China may use temporary rates to tax some energy and raw material products from overseas, and cut duties of imports closely related with people's daily life later this year.
It also said adjustments may be made in import tax rates of some advanced machinery and key machinery parts to meet domestic market demand.
China's imports increased a weaker than expected 0.3 percent in April. It compared to 5.3 percent in March and contrasted sharply with February's 39.6 percent surge.
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