China expands retail policies for cross-border ecommerce

Thursday 22 November 2018 00:03 CET | News

China has shared plans to expand and improve policies on retail imports and exports via cross-border ecommerce to unlock the potential of consumption.

According to the State Council of the Peoples Republic of China, the Chinese government will stimulate the potential for increased imports and step up cross-border ecommerce and other new forms and models of business. In addition, it underlines the need to promote new forms of industry, including cross-border ecommerce, and adopt a new approach of prudent, accommodating and effective regulation.

Starting from January 2018, the current policies on cross-border ecommerce retail imports will continue. No requirements in licensing, registration or record filing for first-time imports will apply to retail imports through cross-border ecommerce platforms. Instead, these goods will receive more relaxed regulation as imports for personal use. Moreover, implementation of this policy will be extended from the 15 cities such as Hangzhou to another 22 cities such as Beijing, which have just established comprehensive cross-border ecommerce pilot zones.

Goods included in the cross-border ecommerce retail imports list have so far enjoyed zero tariffs within a set quota and had their import VAT and consumer tax collected at 70% of the statutory taxable amount. The preferential policies will be extended to another 63 tax categories of high-demand goods. The quota of goods eligible for the preferential policies will be raised from CNH 2,000 to CNH 5,000 yuan per transaction, and from CNH 20,000 to CNH 26,000 per head per year. This quota will be further adjusted as needed in light of increases in personal incomes.

In addition, export tax rebate policies will be further improved in line with international practices to boost exports via cross-border ecommerce.

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Keywords: China, retail, cross-border ecommerce, payments
Countries: World