China prepares to boost imports

Lower tarriffs in major import categories like energy products and consumer goods could be arriving soon.

The revelation came as the State Council expressed the government's intention to roll out measures intended to spur flagging imports, which has dragged on the country's economic growth.

Here's more from BBVA:

According to a statement posted today on the State Council’s website, China plans to introduce a package of measures including lower import duties on energy products, consumer goods and key components in “strategic” emerging industries that cannot be produced locally. Details on the planned selective tariffs cuts have not yet been disclosed, including the timetable. In addition, the government is also strengthening financing services for such transactions, and encouraging commercial banks to offer credit facilities.

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