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P&G and Nestle Stand to Gain From China's Lower Import Taxes

  • Cuts follow President Xi’s call to improve living standards
  • 187 products to see tariffs cut from Dec. 1, ministry says
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China Plans to Cut Import Taxes on Consumer Goods
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China’s new plan to slash import taxes on a wide range of consumer goods promises to boost the prospects of multinationals in the Chinese market, with everything from Procter & Gamble Co.’s diapers to Diageo Plc’s whiskey becoming more affordable to local consumers.

Tariffs for 187 product categories will drop from an average 17.3 percent to 7.7 percent after the cut takes effect on Dec. 1, the Ministry of Finance said in a statement Friday, citing the need to help consumers access quality and specialty products that aren’t widely produced locally.