Home / Knowledge / News / Apparel/Garments / Imported high-end garments in China to be cheaper
Imported high-end garments in China to be cheaper
01
Jul '11
Chinese Government is likely to reduce import duty over some luxury items, including fashion garments.

In the last few months, there has been a decline in imports growth, in spite of the Government promoting imports to maintain its trade balance.

The World Luxury Association estimates China's spending on luxury goods to touch US$ 14.6 billion in 2012. This would make China the world's biggest consumer of luxury items surpassing Japan.

The increasing awareness of Chinese people regarding luxury brands and a rise in their disposable incomes are the factors that trigger the spending on luxury items.

The data from the Association reveals that Chinese people spend four times more in foreign countries on luxury items, than while purchasing at home. This is because of the high import tariffs in China.

Last year, China collected 1.25 trillion Yuan or about 30 percent of its financial revenue through duties on imported items. These included VAT, excise duty and other tariffs that are applicable to imported goods.

Fibre2fashion News Desk - China


Must ReadView All

Textiles | On 27th Jun 2017

Govt defers tax deduction at source provision under GST

E-commerce players in India will not be required to deduct tax on...

Apparel/Garments | On 27th Jun 2017

Future Group aims Rs 12,000 crore in fashion business

Future Group, which runs retail stores across India under various...

Textiles | On 27th Jun 2017

AEPC & NSDL to help exporters with GST compliances

Apparel Export Promotion Council (AEPC) and National Securities...

Interviews View All

Shiladitya K Joshi
Truetzschler India Private Limited

India ITME provides a platform to interact with our stakeholders

Smarth Bansal
Colorjet India Limited

We would like to venture more companies into the Indian market

Ajay Ghariwala
Luthra Group

We are ready to adopt or follow every opportunity

Mark Paterson
Technical Absorbents Ltd

Mark Paterson, R&D manager of Technical Absorbents Ltd talks about Super...

Mohammad Hassan
Biax Fiberfilm

About one in every 20 patients picks up an infection while hospitalised....

Marcel Alberts
Eurofibers

Coating at a fibre level is a practice not usually seen in the...

Jay Ramrakhiani
Occasions Elegance Wear

It is believed that by early 19th century, Varanasi weavers had moved away ...

Aditi Somani
Aditi Somani

Aditi Somani specialises in luxury fusion wear with international cuts and ...

Mike Hoffman
Gildan Activewear SRL

Gildan Activewear, a manufacturer and marketer of branded clothing and...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

news category


Related Categories:
July 2017

July 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

SUBSCRIBE


Browse Our Archives

GO


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search