Asia’s fashion and apparel market is expected to continue to lead global growth during 2014-2016--and Asia holds various opportunities for growth and profits for many U.S. fashion retail companies. In 2014, demand in Asia is forecast to rise 4.5 percent and demand in China is forecast to grow at 8.8 percent, driven by growing personal disposable income and higher interest in fashion apparel.
At the border, China Customs and other regulatory agencies pay great attention to imported garments, footwear, and fashion accessories. With an average Customs duty rate of 14 percent, import VAT of 17 percent, and consumption tax assessed on certain fashion accessories, China Customs is active in ensuring that the correct amount of taxes are paid when importing merchandise into China. The Commodity Inspection and Quarantine (CIQ) Bureau are also active in upholding consumer protection by checking at the time of importation that labelling, hangtags and product quality standards are met in full.
The purpose of this webinar is to provide you with updates on (i) trade compliance risks and strategies (ii) savings opportunities (iii) and trade facilitation, so that you can be better positioned to optimise yourimport and retailing opportunities in China. The webinar was delivered by Damon Paling, Partner at PwC Shanghai.
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