Caixin
Caixin Global – Latest China News & Headlines

Home >

TRENDING
Analysis: Alibaba’s New Processor Shows Applications Are Key to AI Chip Success
In Depth: Megvii Co-Founder Is Back Riding the Latest AI Wave
Beijing Humanoid Robotics Hub Raises $100 Million in First Funding Round
LATEST
Beijing Humanoid Robotics Hub Raises $100 Million in First Funding Round
Analysis: Alibaba’s New Processor Shows Applications Are Key to AI Chip Success
Aerofugia Raises Nearly $150 Million to Get Flying Taxis Certified
Alibaba Pledges $432 Million in Lunar New Year AI Subsidy War
In Depth: Megvii Co-Founder Is Back Riding the Latest AI Wave
China Fines Kuaishou Unit $3.8 Million for E-Commerce Violations
Chips Drive China’s Electronics Exports
Robots Take the Stage at China’s Spring Festival Gala
Alibaba Unveils New AI Chip to Rival Nvidia’s China Offerings
ASML Expects China Revenue Drop Following Backlog-Fueled Surge
China’s Telecom Industry Stalls as Traditional Revenue Dries Up
TikTok Outage Puts New U.S. Operations to the Test
Moonshot AI Gets More Into Agents With New Model
Texas Doubles Down on China Tech Ban, Adding AI and E-Commerce Giants
Chinese GPU-Maker Challenges Nvidia in Three-Year Development Plan
In Depth: Tencent Bets Its AI Future on 28-Year-Old From OpenAI
Alibaba Sets Sights on ChatGPT and Gemini With New AI Model
China’s AI App Developers Lure New Users With Digital Red Envelopes
StepFun Raises $717 Million, Outpacing Newly Listed AI Rivals
LandSpace Pushes Ahead With $1.1 Billion IPO as Exchange Reviews Application

By Dave Yin / Nov 21, 2018 12:27 PM / Economy

Photo: VCG

Photo: VCG

China is cracking down on undeclared imports of consumer goods by personal shoppers traveling overseas – otherwise known as “daigou,” meaning “buy on behalf.”

A new law restricting the daigou gray market, which analysts estimate is worth tens of billions of dollars, will go into effect in January, the Financial Times reports. The new rules will hold e-commerce platforms responsible for fraudulent goods sold by vendors on their sites and require all daigou who advertise online to register with the government and pay full import taxes

FT reports that, in recent months, customs have stepped up airport checks, while Chinese courts have jailed merchants for up to 10 years for tax evasion. The goal of the regulation is to allow foreign brands to unseat the bootleg industry with taxable premium imports, though the move could drive customers towards cross-border ecommerce platforms with lower tax rates.


Share this article
Open WeChat and scan the QR code