China will cut import tariffs by about 50 percent for some consumer goods in June to boost domestic consumption.
Tariffs for imported skin-care products will be slashed from 5 percent to 2 percent, diapers from 7.5 percent to 2 percent, leather boots from 24 percent to 12 percent, and woolen suits from 17.5 percent to 10 percent, the Ministry of Finance said in a statement on Monday. Tariffs for fur clothing, cashmere jumpers and sneakers have also been halved to between 7 and 12 percent.
"Chinese consumers are very interested in buying clothing, shoes, cosmetics and diapers from overseas," the ministry said. "Lower tariffs for such products will help raise imports, upgrade domestic consumption, and meet various needs of consumers."
(Source: Shanghai Daily)