China* may lower tariffs on luxury goods by 10% — International Finance News
The Ministry of Commerce is drafting a motion to lower China’s tariffs imposed on luxury import goods in an effort to boost sales revenue of the country’s luxury market, the International Finance News reported Thursday.
The draft, which will lower import duties on cosmetics, jewelry and leather goods, is expected to be announced by the end of the year and go into effect early next year, the newspaper said.
The newspaper reached out to the Ministry of Commerce but failed …

RNCOS in its new research report “China Tourism Industry Forecast to 2012” has said that outbound tourism in China has been witnessing phenomenal growth for last few years and is way ahead in comparison to inbound tourist arrivals. The total number of outbound travelers grew by close to 12% CAGR during 2004-2008 to touch the statistics of 45 Million visitors in 2008. Sustained economic growth, rising number of affluent people in total population and other parameters have been identified by our research as prime factors that transformed the outbound tourism …