The Import Expo just closed shortly before, and the temperature of the “Double 11” has not completely dispersed. Cross-border e-commerce has ushered in a wave of good information.
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It is reported that China’s cross-border e-commerce retail import transition policy rules and documents will soon land, among which the list of cross-border retail import expansion tax items that are highly concerned by the industry and consumers is released soon, among the 63 tax items expanded this time, or It will cover consumer goods such as electronic products and small household appliances, as well as food, health care products and other categories. After the expansion, the cross-border retail import list will include more than 1,300 tax items, which basically covers the current Chinese consumer demand for more products.
The State Council executive meeting on November 21 clearly clarified and improved the cross-border e-commerce retail import policy and expanded the scope of application, releasing three substantial benefits of “continuation”, “expansion” and “raising”, namely from 2019. From January 1st, the implementation of the current regulatory policy for cross-border e-commerce retail imports will continue, and the scope of policy will be expanded from 15 cities to 22 cities. The products range will also be expanded to include 63 new tax items, with a single transaction limit. From 2,000 yuan to 5,000 yuan, the annual transaction limit increased from 20,000 yuan per person per year to 26,000 yuan.
It is noteworthy that, prior to this, China’s cross-border e-commerce retail import regulatory transition policy has been extended twice in 2016 and 2017. With the transition period coming soon again at the end of this year, the policy direction has been highly concerned by the industry.
Crossborder E-commerce new deal
“The biggest benefit of this New Deal is to define the cross-border e-commerce. Clear regulation will be different from general trade.” Zhang Li, director of the Institute of Electronic Commerce of the Ministry of Commerce, said that the cross-border e-commerce model and general trade imports There are big differences, such as small batches of purchases, and it is difficult to meet the requirements of general trade such as certificates of origin. Therefore, it is undoubtedly a major positive for the industry to explicitly carry out inclusive supervision in the form of personal items.
Zhang Li believes that some companies may still wait and see, wait for the policy to stabilize and then make a layout. Now they have made clear their expectations, enhanced their confidence, and made decisions based on the New Deal. In addition, after the expansion of the pilot areas, a total of 35 cross-border e-commerce comprehensive pilot zones in China are applicable to the New Deal, which is conducive to the unified exploration of regulatory innovation initiatives in the pilot zone. For consumers, increasing the single and annual quotas can satisfy a large amount of consumer demand, enhance consumer welfare, and promote the consumption return, and also help to tap the potential demand for consumption.
“The industry feels that the positive for the industry may be more obvious than the previous ones, giving us a reassurance.” A cross-border e-commerce company said that after the State Council’s adjustment, the industry generally expects that the future direction of the policy will be relatively long-term. stable. “Now we will wait for the release of the policy details documents, especially the 63 new catalogs. After the list is released, we will begin to prepare for the stocking.”
It is understood that China’s cross-border e-commerce retail import transition policy documents will be released soon, and the list of imported goods that are highly concerned by the industry and consumers is also released. Among the 63 tax items that will be expanded, it will cover consumer goods such as electronic products and small household appliances, as well as some imported foods and health products. After the expansion, China’s cross-border retail import list will include more than 1,300 tax items, which basically covers the categories of consumers’ import demand.
Data show that in 2017, China Customs cross-border e-commerce management platform inspection and release of goods totaled 90.24 billion yuan, of which imports were 56.59 billion yuan, an increase of 120%. From January to October this year, the import value was 67.2 billion yuan, a year-on-year increase of 53.7%.
China International Chamber of Commerce, Deloitte China Research, Ali Research Institute recently released the “China Import Consumer Market Research Report” shows that with the rise of cross-border e-commerce platform, China’s cross-border e-commerce retail import penetration rate (through cross-border e-commerce purchase) The ratio of the number of imported goods to the number of online shoppers has increased rapidly from 1.6% in 2014 to 10.2% in 2017.
The first China International Import Expo
It is worth mentioning that at the first China International Import Expo, which was closed not long ago, e-commerce companies have become an important force active in the procurement army of the Expo, Alibaba, Jingdong, Vipshop, Netease Koala, etc. Businesses have large purchase orders. Cross-border e-commerce import business has become one of the important channels for China to expand imports.
Li Mingtao, dean of the China International Electronic Commerce Center Research Institute, said that the introduction of the policy reflects the current strategic direction of China’s expansion of imports and opening up, and once again conveys to the industry a major move to expand China’s openness, and also better supports cross-border cooperation. The new business of e-commerce continues to develop rapidly, meeting the needs of domestic consumption upgrades. “It is expected that the introduction of the policy will further enhance the confidence of the industry and guide more market resources to invest in cross-border e-commerce, and the industrial development will usher in new opportunities.”
It is undeniable that since this year, China has repeatedly lowered tariffs on imported goods. The most recent one was on November 1st, China lowered the import tariffs of 1,585 tax items, mainly related to many industrial and consumer goods related to production and life. The average tax rate dropped from 10.5% to 7.8%, a drop of about 26%. It is believed that with the favorable policies, the cross-border e-commerce retail import business will further develop.
Zhao Ping, director, and researcher of the International Trade Research Department of the China Council for the Promotion of International Trade, said that in recent years, there have been some new changes in China’s economic situation. Especially since the 19th National Congress, China has proposed to introduce and come out with the focus on the “Belt and Road”. Pay equal attention to the formation of an open pattern between the two sides of the land and the sea.
Under such a strategic line of thinking, China has made many important strategic adjustments in opening up to the outside world, especially in 2017-2018, it has clearly proposed a policy of actively expanding imports, and has continuously introduced promotion measures, such as reducing tariffs on imported consumer goods several times. In particular, zero tariffs have been imposed on imports of drugs with anti-cancer functions, and tariffs on imported auto parts have also been significantly reduced.
Not only are tariffs constantly lowered, but the import threshold is also decreasing. For example, the scope of application of import licenses and the scope of application of import quotas are greatly reduced.
This means that China adopts a positive encouragement attitude in terms of imports, and cross-border e-commerce as a new form of trade is also an important starting point for actively expanding the implementation of import policies and an important channel for expanding imports.