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Economic Watch: China expands imports to share development dividends with world
 
Date:2018-06-21  Source:Xinhua

China has reassured the world that its stance on encouraging imports will not change, a major development strategy that will not only help domestic industrial upgrades but also stimulate global economic growth.

A slew of incentives will be taken to further boost imports, the State Council, China's cabinet, decided at an executive meeting last week chaired by Premier Li Keqiang.

In response to domestic consumption upgrades and an economic shift to quality, China supports the imports of daily consumer goods, medicine, and equipment for rehabilitation and old-age care, according to the meeting. More measures are in the pipelines to lower tariffs, optimize import customs clearance, and clear up unreasonable management measures and fees.

The move represents China's latest efforts to further open up its economy, as the country embraces the 40th anniversary of the reform and open-up drive, the first and foremost factor behind its economic success story.

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