After a slew of measures in recent months to further open up the Chinese market to foreign goods and services, the central government is mulling tariff reductions on a wide range of consumer goods, Bloomberg reported Thursday.
The tariff cuts could go into effect as early as July 1 and will cover goods such as food, medicine, health products and cosmetics, according to Bloomberg, which cited "people familiar with the matter".
There are not yet any specific details about the new round of tariff cuts, such as the size of the reductions, but the cuts could cover "significantly more" product lines than the 187 items for which tariffs were cut in November 2017, it said.
The Ministry of Finance (MOF) did not respond to a Global Times' request for comment as of press time on Thursday.
Wider tariff cuts are in line with the Chinese government's plan for further opening-up in the domestic market.
