China is on the verge of extending transition phase for cross-border retail

China is on the verge of extending transition phase for cross-border retail

China is geared up towards delaying enforcing tougher rules on the country's rapidly growing cross-border retail market until the end of next year. Undoubtedly, it’s going to be a boost for global companies, which have been tapping the round-about route into the second economy of the world.

Cross border-retail sales, or in other words, goods either shipped to shoppers in the Asian country from overseas or delivered from bonded warehouses of free-trade zones within the country, are believed to reach 758 billion Yuan, as data from McKinsey & Co and iResearch states.

Planned fresh rules will drastically lift  taxes as well as regulations on goods sold via cross-border channels, although the Chinese government is going to extend a transition phase for implementation by one year, as China's ruling State Council told on Wednesday. The given move will provide retailers with more time to prepare and adapt.

Similar

Latest news

Japan real wages surge is slowest in almost two years

Japan's March real wages went down at the fastest pace in nearly two years, weighed by minor nominal pay lifts as well as a moderate ascend in consumer prices, thus posing a setback for Prime Minister Shinzo Abe's tries to revitalize the Japanese…

Deposit with your local payment systems

Callback

A manager will call you shortly.

Change number

Your request is accepted.

A manager will call you shortly.

Internal error. Please try again later

Beginner Forex book

The most important things to start trading
Enter your e-mail, and we will send you a free Beginner Forex book

Thank you!

We've emailed a special link to your e-mail.
Click the link to confirm your address and get Beginner Forex book for free.

You are using an older version of your browser.

Update it to the latest version or try another one for a safer, more comfortable and productive trading experience.

Safari Chrome Firefox Opera