China will formulate laws on tariffs and other taxes in 2022, Xinhua reported, citing a work report submitted for review on Tuesday to the country’s national legislature.
The move aims to improve the “legal system supporting the development of the socialist market economy,” according to the work report, by the Standing Committee of the National People’s Congress.
Read the full report: Xinhua.
ALSO READ:
US Lawmakers Call for More Exemptions to China Tariffs
Lowering US and China Tariffs Could Ease Inflation, Yellen Says
US angry over WTO ruling that China tariffs broke trade rules
