China lowers import duties on 850 products

The customs dispute with the US has also for China's growth to negative consequences. In order to bring the trade into the swing, reduces the country the dutie

China lowers import duties on 850 products

The customs dispute with the US has also for China's growth to negative consequences. In order to bring the trade into the swing, reduces the country the duties on 850 Goods. In addition, Beijing promises to further open its market.

China lowers tariffs for imports in the value of several hundred billion euros. As the state Council said in Beijing, the import reduced duties on more than 850 goods. The step has to do with the ongoing trade war between China and the United States nothing to support the Argument of the government in Beijing that the Chinese economy opens further.

consumer relieve

tariff reductions on imports, which have reached according to calculations by the financial Agency Bloomberg in 2018 with a volume of 389 billion U.S. dollars. You will not only relieve the burden on the consumer and domestic demand growth, but also the development of the High-Tech industry to promote.

The measures are intended to 1. January to, among other things, the costs for the Import of consumer goods, High-Tech Parts, the use of special drugs, as well as frozen pig meat to reduce.

The price of pork in China has doubled and has become a strong inflation driver.

Because of the for more than a year of rampant African swine fever, China needs to import more pork from abroad. According to estimates, around half of the animal population has been the for years died. The price of pork has doubled and has become a strong inflation driver.

China is the largest Consumer and producer of pork in the world. The strong demand in Germany, too, meat prices are on the rise.

growth is so slow as since decades no more

Under the pressure of the trade war with the US is China's economy in the run-out year, with six percent as slow as since almost three decades is no longer grown. After the default of 6.0 to 6.5 percent growth for 2019, experts expect that the government for the new year is only set still "around 6 percent" as the target.

revive the economy, announced by the Chinese government a further Opening of the market for Oil, telecommunications and electricity. Private companies should get more access, it said in a communication to the government in Beijing. In other industries, private companies should be treated as state.

Updated Date: 23 December 2019, 10:35

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