Chinese Import Tariff Adjustments (June, 2015) and Impact on China’s Cosmetics Industry

An announcement made 2015/5/25 by the Customs Tariff Commission of China’s State council, reported that the import tariffs levied on a wide range of popular consumer products will be subject to adjustments becoming effective on 2015/06/01.

Duty rates in China vary from 0% to 100% depending on the nature of the imported goods and place of origin with an average rate of 12.47%. According to  the announcement the import tariff reductions on selected consumers’ products will average more than 50% and certain skin care products may be subject to tariff reductions of 60% which according to the Ministry of Finance of the People’s Republic of China will boost importation and help meet domestic demand.

In this webinar, Lucy Lu from Reach24h Consulting Group will provide an overview of the taxes levied on cosmetics, and will discuss the impact of these changes on China’s cosmetics industry and any potential benefits for international stakeholders and investors.

1. Overview of Chinese taxation systems relating to Cosmetics

2. Products earmarked for custom duties reduction

3. Market impact and potential impact of the import tariff adjustments

4. Case study

5. Conclusion

Speaker

Lucy Lu

Graduated from Holland’s prestigious Wageningen University, Lucy followed her passion for cosmetics and in 2015 joined the Cosmetics Division at the REACH24H Consulting Group. She is a specialist in cosmetic regulatory compliance and marketing. Lucy is also a founding member of The International Society for Phyto-Cosmetic Science.