A visitor interacts with a robot on display at the second China International Import Expo in Shanghai, Nov. 4, 2019. (Photo: China News Service/Han Haidan)
(ECNS) -- Chinese authorities have offered policy incentives that reduce tariffs on imported items for sale at China International Import Expo (CIIE) in Shanghai, according to the Ministry of Finance.
The sale of a "reasonable amount of" exhibits could benefit under the new policy, which waives tariff collection and offers a 30 percent discount on value-added and consumption import tax, said a ministry statement.
It added imports that benefit from the policy exclude goods forbidden for import into China, endangered animals, plants and their products, and 20 kinds of goods and vehicles.
Shanghai Bureau of Finance, the Shanghai branch of the State Taxation Administration and Shanghai Customs jointly launched the policy.
The second China International Import Expo (CIIE) opens in Shanghai on Tuesday, showing China's commitment to wider opening up and shared prosperity. Covering 330,000 square meters, the expo has attracted exhibitions from more than 3,000 companies from over 150 countries and regions.