From April 9Th, The Entry Tax On Textile Entry Was Reduced From 25% To 20%

Li Keqiang, premier of the State Council, chaired the executive meeting of the State Council in April 3rd to determine measures to reduce government fees and operating service charges this year, further reducing burdens on enterprises and the masses, and decided to reduce the tax rate on postal items collected for entry articles, so as to promote the expansion of import and consumption charges.

Since April 9th, the postal tax rate has been lowered for personal luggage and postal articles. The rate of duty on food and medicine has been reduced from 15% to 13%, and textiles and electrical appliances have been reduced from 25% to 20%.

In addition, it will cooperate with the foreign investment law to meet the needs of optimizing business environment and adopt a number of draft amendments to the law.

The meeting also identified measures to reduce mobile network traffic and SME broadband tariffs for about 180 billion yuan a year, reduce general industrial and commercial average electricity prices, lower the price of railway freight pport, reduce port charges, and abolish citizenship information authentication fees.

The above measures will further reduce administrative fees and charges after the reduction of social security rates, and will reduce the burden on enterprises and the masses by more than 300 billion yuan throughout the year.