The Ministry of Commerce stated it will address the issue of domestic luxury goods being priced higher than overseas.
Release Time:
2011-05-13 18:54
Source:
Ministry of Commerce
Minister of Commerce Chen Deming said that China will take measures to promote competition, improve the logistics system, transform and innovate retail models, and reduce the burden on retail enterprises to address the issue of some international luxury brands being sold at higher prices in China than overseas.
He said that some overseas markets have no tariffs. The Hong Kong region implements a zero-tariff policy, and many people find that some goods there are cheaper than in the mainland after arriving in Hong Kong. Because China's high-end consumer goods distribution system has just been established, with many layers and high costs, it increases the transaction costs of high-end consumer goods in China.
Chen Deming emphasized that many European and American brands' fabrics are exported from China, and even some processing steps are completed in China. China is already the world's largest exporter, but currently, none of the world's top 100 most famous brands are Chinese. Therefore, China will vigorously cultivate market competition entities, including cultivating China's high-end and excellent consumer goods brands. At the same time, it will transform and innovate retail models and explore ways to allow products originally for export to be sold directly in the domestic market. He said that many international brand products are produced in China, but the method of exporting and then re-importing for domestic sales increases carbon dioxide emissions and logistics costs.
Chen Deming also said that in improving the logistics distribution system, China is formulating the "Twelfth Five-Year" commercial logistics plan, which will enable third-party logistics and large chain distribution enterprises to fully play their roles and reduce commodity circulation transaction costs.
Chen Deming stated that China hopes countries with large trade deficits with China can relax export control measures. Currently, 99% of China's trade surplus is with a few major exporting countries, while it has trade deficits with ASEAN, Japan, South Korea, and the entire Africa and South America. He said that in the first two months and early March of this year, China experienced a trade deficit. He expects that the proportion of the trade surplus to GDP for the whole year will further decline from last year's 3.1%.
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