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China to raise limit on cross-border online purchases [Copy link] 中文

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Post time 2018-12-1 14:38:47 |Display all floors
China's raising the limit on cross-border online purchases, as well as expanding its list of duty-free goods starting January 1, 2019, according to a statement by the Ministry of Finance on Friday.

The annual quota on cross-border e-commerce purchases for individual buyers will be raised from 20,000 to 26,000 yuan (about 3,768 U.S. dollars). The limit on a single transaction will also be raised from 2,000 to 5,000 yuan.

Meanwhile, some 63 categories of products will be added to the duty-free list, covering consumer goods such as beers, electronics and healthcare products.

The announcement is part of the country's opening-up efforts to expand imports and upgrade domestic industries, aiming to meet the ever-growing needs of its people.

This July, China identified 22 cities as venues for comprehensive cross-border e-commerce pilot zones in an effort to boost cross-border e-commerce. The new policy will be applied to these cities.

The move also echoed China's tariff reduction and customs clearance efforts. On November 1, the country cut tariffs on 1,585 items of imported goods. This September, China's custom administration also announced new measures to expedite cargo clearance and cut administrative charges to facilitate foreign trade.

The first China International Import Expo (CIIE) held in Shanghai this November also fully demonstrated the country's efforts to boost imports and enhance business cooperation.

The e-commerce law aimed at regulating the market will also take effect on January 1 next year.

Chinese consumers shopping for foreign brands online

Chinese consumers have become increasingly drawn to foreign brands via e-commerce platforms. Statistics showed that the retail imports of cross-border e-commerce from January to October this year reached 67.2 billion yuan (about 9.7 billion U.S. dollars), up 53.7 percent year-on-year.

In 2017, cross-border e-commerce consumers accounted for 10.2 percent of China's total e-commerce consumers, up from 1.6 percent in 2014, according to a report on China's import market jointly released by China Chamber of International Commerce, global auditing and consultancy firm Deloitte, and Alibaba's Aliresearch.

"The new policies will not only make cross-border trade more convenient, but also meet consumers' upgraded needs and improve regulation and supervision of cross-border e-commerce imports," said Wang Jian, a professor with the University of International Business and Economics.

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Post time 2018-12-1 22:58:17 |Display all floors
China government must not pleased US government!
All this kind of relaxation will cease finally!
Most important is to raise quality and variety of China made products!
REAL NUTS!

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Rank: 8Rank: 8

Post time 2018-12-2 09:10:20 |Display all floors
GhostBuster Post time: 2018-12-1 22:58
China government must not pleased US government!
All this kind of relaxation will cease finally!
Mos ...

The problem of cross-order online purchases is going to get worse, not better.

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Post time 2018-12-2 09:22:35 |Display all floors
wchao37 Post time: 2018-12-2 09:10
The problem of cross-order online purchases is going to get worse, not better.

Yes, China government lacks the skill in training the proper correct talents!
Today, if one gets rich without proper skills, one is looked as SMART!
Those who could not make money quickly are considered DIRT!

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Post time 2018-12-2 15:55:38 |Display all floors
GhostBuster Post time: 2018-12-2 09:22
Yes, China government lacks the skill in training the proper correct talents!
Today, if one gets r ...

This might be one of the major ways to let Chinese netizens buy more online goods from America, but I think the government should pose limits on the total amount of purchases pending further discussions or else it could be a major channel for money-laundering through setting up fake companies overseas for the purpose of transferring money overseas.

Notorious cases had already been identified in the past doing just that.

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Post time 2018-12-2 21:40:14 |Display all floors
wchao37 Post time: 2018-12-2 15:55
This might be one of the major ways to let Chinese netizens buy more online goods from America, bu ...

Keep China Customs busy around the clock year round!

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Post time 2018-12-3 08:04:41 |Display all floors
GhostBuster Post time: 2018-12-2 21:40
Keep China Customs busy around the clock year round!

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