Hey kids! 🎉 Guess what? China is planning to lower taxes on lots of products they get from other countries starting January 1, 2025! That means people in China can enjoy more awesome things from around the world. 🌏
So, what’s going on? Well, when countries buy and sell things from each other, they sometimes add extra fees called “tariffs” or “import taxes.” These taxes can make products more expensive. But China has decided to lower these taxes on 935 different items! That’s a lot!
Why are they doing this? China wants to bring in better products to help its people live happier and healthier lives. They also want to support new ideas in science and technology and help the environment by promoting green and low-carbon products. 🌳⚡
China is also making special agreements with 34 countries and regions to reduce taxes together. For example, China and the Maldives have a deal where they will eventually have zero taxes on almost 96% of products they trade! Isn’t that cool?
Plus, China will continue to help 43 of the world’s least developed countries by not charging any import taxes on their products. This helps those countries grow and supports friendship between nations. 🤝
Oh, and do you like electric cars? 🚗 China is going to have special tax rates for things like pure electric passenger vehicles to boost technology and industry!
So, in short, by lowering import taxes, China is opening its doors wider to the world and bringing in lots of great stuff to help people and the planet!
Reference(s):
China to adjust import tariff rates, items on some goods from Jan. 1
cgtn.com
