Caixin OnlineFinance & EconomicsTop Stories Finance MOF: No Plans to Lower Tariffs on Luxury Goods
06.22.2011 19:04

MOF: No Plans to Lower Tariffs on Luxury Goods

An unnamed official with the Ministry of Finance countered rumors that luxury good imports would see a reduction in tariffs
By staff reporter Yu Hairong and Wang Changyong
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(Beijing) – In response to recent media reports that the Chinese government plans to lower tariffs on luxury goods, an unnamed official with the Ministry of Finance told Caixin June 21 that no such plans have yet been set.  

On June 15, the Ministry of Commerce's spokesman Yao Jian said in a press conference that high-end products are expected to have cuts on import duties. His remarks were later interpreted in media reports as an official statement of an imminent tariff reduction in the range of 2 to 15 percent on luxury goods including cosmetics, liquor and tobacco.

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