China to lower import taxes on diapers, skincare products from June 1

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ort taxes on diapers, skincare products from June 1

China will lower import taxes on some consumer goods including skincare products, Western-style clothing and diapers starting from June 1, the Ministry of Finance said in a statement on Monday. 

PHOTO: BLOOMBERG

MAY 25, 201510:53 AM

[SHANGHAI] China will lower import taxes on some consumer goods including skincare products, Western-style clothing and diapers starting from June 1, the Ministry of Finance said in a statement on Monday.

The ministry said the average decrease in import tax would be over 50 per cent, and was aimed at supporting Beijing's move to boost domestic spending and combat a slowing economy at a time when record numbers of cash-rich Chinese tourists are splurging overseas.

REUTERS