China reduces tariffs on imports of personal items to stimulate consumption

Almaty. May 25. Silkroadnews - China's Ministry of Finance announced today that measures relating to regulation of tariffs on the import of personal items to stimulate domestic consumption, transmits the agency Xinhua.
Beginning on June 1, import tariffs on suits and running shoes, sneakers will be reduced accordingly from 14-23% to 7-10% and from 22-24% to 12%.
It is noted that the Ministry of Finance of the PRC developed measures also on the import of cosmetics and diapers, which will be lowered to 2% from the current 5 and 7.5% respectively.
As recalled by the agency in the I quarter of 2015. China's economy grew by 7%, against 7.3% in the previous quarter. Retail trade turnover in April showed an increase of 10%, while in March the figure was 10.2%. It was seen as evidence that the country needs measures to support growth.