China Not Considering Cutting Luxury Tariff
[2011-06-23 14:34:42]
China's Ministry of Finance isn't considering lowering tariffs on imported luxury goods, contrary to local media reports the country could cut import taxes on goods such as handbags and cosmetics by 2%-15% to boost domestic consumption, Caixin Media reported on its website, citing an unnamed official with the ministry.
The official added the ministry hasn't heard of any such plans.
The remarks come after Ministry of Commerce spokesman Yao Jian said last week China will further cut import tariffs, including those on luxury goods, to expand imports.
Source: MarketWatch
Keywords:ChinaLuxury Tariff
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