China's Ministry of Commerce expanding opening up to promote consumption
ANBOUND
Zhong Shan, China's Minister of Commerce, said recently that the Ministry of Commerce will expand its opening up to promote consumption, and will greatly ease the market access, as well as lower the import tariffs on automobiles and of certain daily consumer goods. Since 1986, China's import vehicle tariff has been adjusted for 9 times. The industry generally believes that the gradual reduction of import vehicle tariffs will bring a number of positive results for the automotive market, including more choices for consumers, increase the competitiveness of imported vehicle market, and intensify the upgrading of the products, as well as promote the development of China's auto industry.