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Economy

China e-commerce tax cut to boost imports of diapers and cameras

Xi demonstrates 'open market' ahead of US trade talks

China's online sales are growing faster than overall retail sales.   © Reuters

SHANGHAI -- China will dramatically expand tax incentives for online purchases from overseas in January, hoping to invigorate consumer spending and extend an olive branch to the U.S. by further opening its market.

China already waives tariffs for goods bought online and imported through warehouses in special tax-protected zones, and lowers value-added and consumption taxes to just 70% of the level applied to items imported through other channels.

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