Abstract

This study aims to investigate the impacts of expensive food and luxury goods import tariff adjustment on Chinese economy and related measures. Nowadays, Asia especially China has been the world’s biggest expensive food and luxury goods market. However, due to relatively higher luxury import tariff in China, most consumers have chosen to purchase expensive food and luxury goods abroad which leads to a large of domestic consumption cash outflow. Therefore, whether to cut the luxury import tariff in China has been an urgent topic in the field. This study reviews the existing research on luxury consumption as well as relative background home and abroad, especially focusing on the situation on Chinese consumers. Then it briefly introduces the current status of Chinese luxury consumption as well as luxury market, illustrating that expensive food and luxury goods consumption import tariff cut has a great contribution to the Chinese economy. Based on the conclusions, the proposing measures will be put forward when cutting luxury import tariff.

Keywords:

Chinese economy, expensive food and luxury goods, import tariff,

References

Competing interests

The authors have no competing interests.

Open Access Policy

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Copyright

The authors have no competing interests.