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China Officially Extends Grace Period for CBEC Transition Policy

The CBEC transition period has been officially prolonged since Jan 1st 2019 without a specific set expiration date. CBEC-traded cosmetics, infant formula powder, medical device and special food (such as health food and food for special medical purposes) will be not subject to , pre-market approval requirements. The positive lists of CBEC will be appended to include 63 types of new commodities in great demand. Transaction limit of CBEC retail products eligible for preferential tax policy will be raised from 2000 RMB to...
Takehome:
  • The CBEC transition period has been officially extended beyond the Jan 1st 2019 deadline. No new deadline has been specified and ChemLinked expects current measures to remain stable in the short to medium term.
  • CBEC-traded cosmetics, infant formula powder, medical device and special food (such as health food and food for special medical purposes) will not be subject to complicated pre-market approval.
  • The positive list of CBEC will be appended to include 63 types of new commodities in great demand.
  • Transaction limit of CBEC retail products eligible for preferential tax policy will be raised from 2000 RMB to 5000 RMB per transaction and from 20,000 RMB to 26,000 RMB per person per year.

During the State Council executive meeting held on Nov. 21, 2018, China determined to further extend the transitional policies of CBEC retails beyond the originally stipulated January 1st, 2019 deadline.
  

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