A staff member wearing a face mask arranges stacks of Chinese yuan banknotes at a bank in Nantong, East China's Jiangsu province, on Jan 30, 2020. (Photo: Agencies)
China will expand the pilot policy of selective tariffs on domestic sales to all comprehensive bonded zones from Wednesday, amid efforts to relieve the tax burden on export enterprises.
The announcement was jointly made by the Ministry of Finance, the General Administration of Customs, and the State Taxation Administration.
The move to expand the pilot policy of selective tariffs can help cut the tax burden on enterprises, stabilize foreign trade and expand domestic demand, said He Daixin, deputy director of the financial research office of the National Academy of Economic Strategy of the Chinese Academy of Social Sciences.