Imports set to be expanded

China will further expand imports, according to a notice released on July 9.

The notice, jointly released by 20 central government departments, stipulates that the country will take the initiative to expand imports as efforts are made to stabilize exports to meet the public demand for consumption upgrading.

Imports of products that are closely related to people’s lives, such as goods for everyday consumption, drugs, equipment for rehabilitation and elderly care, will be expanded. Measures that lower import tax rates for some products will be implemented. Policies involving duty-free shops will be refined, and imports of duty-free products will be expanded, according to the guideline. The country will boost cooperation with countries involved in the Belt and Road Initiative, set up free trade zones and continue to offer preferential tariff policies to the least developed countries, it said.

The development of trade in services will also be accelerated, with measures to be rolled out to encourage imports of construction design, commercial logistics, consultation, research and design, energy conservation and environmental protection. The import of technologies, equipment and parts that will help industry upgrading and transformation will be encouraged. There will be a moderate increase in agricultural products that are in short supply domestically, as well as means of production and machinery that will help increase the competitiveness of the agricultural sector, the notice said.