The country has introduced or reduced the provisional import tax rates on daily consumer goods including frozen pork, avocados and infant formula milk to ease the domestic supply and demand pressure.
The import tariff of frozen pork has dropped from 12% to the provisional import tax rate of 8%, while that of fresh avocados has dropped from 25 to 7%, and that of retail formula milk from 15 to 5%. To reduce medication costs and promote the production of new medicines, China has started imposing zero import tax on some pharmaceutical products as well as raw materials for the production of new diabetes medicines.
