um●ber of importe

country's openin◆g-up to benefi●t domestic consumer〓s and boost indu●strial trans

image

f○ormation.Average t●ariff rates for cl●othes, shoes, hats●, kitchenware and s◆ports products will ●be reduced to 7.1 ■percent from th●e current 15.9 per○cent, accordi■ng to a statement re●leased aft■er the meet■ing.Averag◆e rates for hou●sehold appliances l■ike washing ◆machines and ref〓r

igerators will dr○op to 8 percent, ◆12.5 percenta●ge points l〓ower. Tariffs 〓on aquatic ●products and m○ineral water wil●l be 6.9 perce●nt on average, down〓 from the existing 1●5.2 percent, whil○e cleaning ●products, cosmetic○s and some healthca〓re products wil●l be levie●d at 2.9 percent, ●down from the presen●t 8.4 percent, ■the statem◆ent said.Further tar●iff cuts will be be◆neficial to open◆ing-up and meet○ public dema◆nd, which wil

●l also push ○forward qu

d goo〓ds star Justo

ali●ty improvements and■ industrial u●pgrading, the statem■ent said. It a■lso sai

image

d related dep〓artments sh◆ould strictly c●arry out the p●olicy and ■prevent any price in〓creases by middlem◆en as a result.O〓n Wednesda●y, the State Counc○il also decided th○at China will rol●l out more foreig●n-investor-frien●dly measures and ○widen market ac■cess.Commi●tments made to canc●el or ease◆ restrictio○ns on foreig〓n investment in ●such manuf■acturing sectors ◆as automob○iles, shipping○ vessels a●nd aircraft will○ be prompt

ly im●plemented.Th〓e mechanism regar●ding quali◆fied overseas inves◆tors will be expa◆nded. This will ○encourage such in●vestors to pa◆rticipate ■in futures tradi◆ng of crude ■oil and iron ore a◆nd provide mo○re support to forei〓gn-investe■d financial ins〓titutions in 〓underwriting ■local government bon●ds."We must strive■ to preserve Chi〓na's status a◆s a major ●destination for for○eign investm●ent. Opening-up has ●driven China's re〓

form endeavors in〓 the pa

st 40 year●s. Foreign-inve○sted enterprises ha●ve been a signific〓ant contributor■ to Chinese ○expor

●Li Keqiang,

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was● descr

ts. More ○importantly〓, they have ■brought to China◆ industrial and valu◆e chains and 〓spurred corpora■te reform a〓nd innovation," 〓Li said.Fore●ign investment in◆ China hit a new■ high of 877.56 bil○lion yuan (■$136.7 bill●ion) in 2017, up〓 by 7.9 perc■ent year-on-y〓ear, accordi■ng to the Min●istry of Commerc■e.It was a■lso

ibed ●a

decided ●at the meet■ing that investm〓ent facilita●tion will be enhanc■ed based on internat●ional stan●dards. The neg○ative list in the ma〓rket access of for◆eign investors wil◆l be revis■ed and rele■ased before J○uly 1.Provincial g■overnments w○ill be given the a◆uthor

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