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China Lowers Tax Rates On Food In Hopes Of Increasing Foreign Trade

China has reduced the tax rates for multiple imported food items to promote foreign trade and fulfill local demand for products that are short in supply. Out of the total 859 imported items 80 were food and beverage related. The lower provisional tax rates for food products are expected to be a temporary measure enforced for only a set period of time, but no cessation date has been announced as of yet.

 

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