Premier Li eyes consumer goods market for growth

Chinese Premier Li Keqiang on Tuesday called for improved import and export policies to offer more choice to the domestic market.

Boosting domestic demand is key to ensuring steady growth and successful economic restructuring, said a statement released after an executive meeting of the State Council, presided over by Li.

Through improved tax policies and a fairly competitive import and export environment, the government will increase the import volume of consumer goods that are preferred by domestic consumers, the statement said, and will also promote the export of consumer goods that are competitive in the global market.

These measures will expand domestic demand, ensuring employment and improving people's lives, as well as boosting the domestic consumer goods industry toward the medium and high-end level, the statement said.

Specific measures were outlined. Trial reductions of import tariffs on certain goods that have high domestic demand should be rolled out before June, and the varieties of imports that enjoy tax reductions will be gradually expanded.

Consumption tax policies on mass consumer goods such as clothing and cosmetics will be improved along with tax reforms.

More duty-free shops at ports of entry will be established and the variety of goods will be increased.

Foreign consumers will enjoy more convenient customs clearance and tax rebate policies, and the making of inspection and quarantine policies that facilitate import by cross-border E-commerce companies will be supported, with unreasonable charges on imports to be removed.

There will be measures to accelerate the brand upgrading of Chinese products. Physical shops will be supported, and online-offline interactions will be encouraged.

The government wants to create a sound environment for consumers to shop easily and locally. Efforts will be made to standardize market order and crack down on fake and inferior commodities.