ASIAN REGULATORY ROUND UP – CHINESE GOVERNMENT CREATES 46 ECOMMERCE ZONES TO FIGHT COVID-19 ECONOMIC IMPACT
April 2nd, 2020
THE CHINESE government has announced that it will add another 46 cross-border e-commerce pilot zones in the country, bringing the number to 105, according to the State Council, effectively mainland China’s cabinet. The move is designed to help revive China’s export industries, which have been damaged by the Covid-19 pandemic. Companies using these zones benefit from favourable taxation policies, notably that products shipped from these zones to other countries are exempt from VAT and consumption tax. Corporate income tax rates will also be lowered for ...
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