According to the Notice of the State Council Tariff Commission on Adjusting Import Taxes on Imported Goods, starting from April 8, the General Administration of Customs will adjust the tax rate and dutiable value of imported goods. According to the regulations, a certain amount of duty-free shopping allowance will be allowed at the duty-free shops at ports of entry, together with the total duty-free shopping amount of no more than 8,000 yuan outside the country, on the basis of maintaining the 5,000-yuan duty-free ceiling for resident passengers entering the country. For the excess part, taxes will be classified according to the entry of goods, food and beverage, some electronic products, gold and silver, furniture and other tax rates from 10% to 15%, clothing apparel rate from 20% to 30%, some tobacco , Cosmetics and other tax rates from 50% up to 60%.
A dozen years ago, China tried its best to accede to the WTO and made many promises to WTO. The most important commitment is to lower the tariff so that Chinese people can afford to import goods because the tariffs in China are really outrageous! China’s accession to the WTO undoubtedly became the biggest winner, with foreign exchange earning record highs and foreign exchange reserves first in the world! While opening up the trade door to the big powers in the west, China still has to set up tariff barriers so that foreign goods can not cross the border and consumers can only cross-border consumption. In this way, it really shames the WTO and destroys itself reputation.
Due to the high tariffs in China, the prices of imported goods are obviously higher than those of their origin, causing many people to go overseas to “sweep cargo” in recent years. According to the incomplete statistics of the Ministry of Commerce, the overseas spending of Chinese people in 2014 and 2015 has exceeded 2 trillion yuan. The “Chinese Luxury Goods Report” released by the Institute for Wealth Research, a luxury research and consultancy in China, also shows that for the fifth consecutive year, the number of outbound tourists in China has increased by 20% to 180 million and the per capita spending on overseas shopping has reached 652 US dollar, ranking first in the world.