policies improve people's livelihoods in 2020
editor's note:
in 2020, the government unveiled several policies, such as lowering import tariffs, deferring income tax payments, and cutting taxes and fees, in order to stabilize employment, promote consumption and improve people's livelihoods. let's take a look.
-- lowering import tariffs for some products
china implemented provisional import tax rates that are lower than the most-favored-nation tariff rates for over 850 commodities starting jan 1, according to a circular on the adjustments of import tariffs issued by the customs tariff commission of the state council.
under the circular, china introduces or reduces the provisional import tax rates on products including frozen pork, frozen avocados and nonfrozen orange juice, as well as imposes zero import tax on pharmaceutical products containing alkaloids for asthma treatment and raw materials for the production of new diabetes medicines.
-- raising duty-free shopping quota
starting july 1, hainan has increased its annual tax-free shopping quota from 30,000 yuan ($4,584) to 100,000 yuan per person each year.
the categories of duty-free goods have also been expanded from 38 to 45, with some electronic products such as mobile phones and laptops added to the duty-free list.
the previous tax-free limit of 8,000 yuan for a single product has been lifted, and the number of categories with a single-purchase quantity limit has been significantly reduced.
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'nice' to meet you, hangzhou
may 6, 2024