Beijing Relaxes E-Commerce Imports to Stimulate Consumer Spending
The Chinese government is raising the amount of money that people living in major cities can spend tax-free on overseas goods via e-commerce platforms by 30%, as it looks to stimulate consumer spending amid trade tensions with the U.S.
Starting in January, the annual tax-free quota for individual consumers will rise to 26,000 yuan ($3,750) from 20,000 yuan, according to a statement (link in Chinese) posted by the State Council, China’s cabinet, on Wednesday. The policy also raised the limit for a single transaction to 5,000 yuan from 2,000 yuan.
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