China to lower import taxes on diapers, skincare products

SHANGHAI: China will lower import taxes on some consumer goods including skincare products, Western-style clothing and diapers starting from June 1, the Ministry of Finance said in a statement on Monday.

The ministry said the average decrease in import tax would be over 50%, and was aimed at supporting Beijing's move to boost domestic spending and combat a slowing economy at a time when record numbers of cash-rich Chinese tourists are splurging overseas.- Reuters