Jun 22, 2011 07:04 PM

MOF: No Plans to Lower Tariffs on Luxury Goods

(Beijing) – In response to recent media reports that the Chinese government plans to lower tariffs on luxury goods, an unnamed official with the Ministry of Finance told Caixin June 21 that no such plans have yet been set.  

On June 15, the Ministry of Commerce's spokesman Yao Jian said in a press conference that high-end products are expected to have cuts on import duties. His remarks were later interpreted in media reports as an official statement of an imminent tariff reduction in the range of 2 to 15 percent on luxury goods including cosmetics, liquor and tobacco.

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