Mainland'S Strong Growth In Imports To Hong Kong

In January this year, the unexpected growth of imports from the mainland has once again attracted the attention of economists and regulators.

In January, the value of imports and exports dropped by 9.8% compared with the previous year.

Among them, exports dropped by 6.6% and imports dropped by 14.4%.

But at the same time, the mainland's imports from Hongkong increased by 119.9% over the same period last year.

The source of the doubt comes from the arbitrage space brought about by the offshore RMB exchange rate difference over the past few months.

Although the exchange rate has been reduced, there is still room for operation.

This has aroused the attention of the foreign trade regulators. Insiders with supervision said privately that according to the reporters, the abnormal reaction to the data has been checked, but there is no conclusion for the time being.

Generally, he said, arbitrage through false trade means.

They are all foreign trade enterprises that are legally operated.

The difficulty of the inspection is that these enterprises immediately stop arbitrage business when they hear the wind.

From his point of view, there is nothing new under the sun.

This is the inevitable story of long-term foreign exchange spreads and spreads.

To thoroughly identify the source of false trade, it is necessary to coordinate with other departments including customs, Ministry of Commerce, bank and safe.

In the actual process, all kinds of reasons are not consistent.

Shen Danyang, spokesman of the Ministry of Commerce, answered the 17 regular monthly press conference.

He said that in January, the mainland increased imports to Hong Kong under a relatively low base, such as increasing imports of gold and other consumer products.

The data also need to be considered in the same period last year with a base of only $790 million.

According to the reporter, if passed

The difference between the hot money flow and the price difference is very high for the operator, such as huge capital, low import and export tariff, convenient pportation and high unit price.

Among them, precious metals, such as import and export tariffs zero gold is the ideal choice.

"It is best not to make such judgements without making serious investigations and analysis, without data support and cases, and do not make such suspicions."

He said.

In addition, Shen Danyang believed that

Escaping is not necessarily tenable.

The scale of foreign capital utilization in mainland China in January showed positive growth.

Foreign exchange data also show that the balance of payments in mainland China is still sound and the fundamentals of the market are good. There is no basis for the continued depreciation of the renminbi.

Therefore, there is no such phenomenon as capital aggravating a large number of escapes.

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Media reporters have learned from many sources that as one of the important contents of tax reform in fiscal reform, the consumption tax will be changed to central or local tax sharing in the future.

Among them, the tax revenue allocated to the central revenue is still levied by the state tax department, while the local income tax is replaced by the local tax department.

Experts believe that the consumption tax will be changed from central tax to shared tax, which can be used as one of the main local taxes, and to some extent, improve the autonomy of Local Taxation.

The local tax items are collected by the local tax authorities. On the one hand, they are conducive to strengthening the collection and management. On the other hand, they are conducive to enhancing the attention of the government of the consumption area to improving the local consumption environment and improving the local consumption ability.

The reporter understands that the above reform direction will be carried out after the complete pformation of the camp and the reasonable adjustment of the central and local income division.

At present, the domestic consumption tax in China belongs to the central tax and is levied by the state tax department.

The consumption tax is a general term for all kinds of taxes that are taken as the object of taxation.

The consumption tax is a typical indirect tax. The internal tax is applied and the tax is ultimately borne by consumers.

The scope of the current consumption tax mainly includes ten items of taxes, such as tobacco, wine, firecrackers, fireworks, cosmetics, refined oil and so on.