China will cut the import duty on passenger cars to 15 per cent in a move that gives a boost to makers of luxury autos such as BMW and Toyota’s Lexus unit.
The State Council, China’s cabinet, has decided to reduce the levy from the current 25 per cent that has been in place for more than a decade, according to people familiar with the plan, who asked not to be identified as the information isn’t public.
A reduction in import duty follows a truce between US President Donald Trump’s administration and Chinese officials as they seek to defuse tensions and avert an all-out trade war. While the levy reduction could be claimed in some quarters as a concession to Mr Trump and will be a boon to US carmakers such as Tesla and Ford, the move will also end up benefiting European and Asian manufacturers from Daimler to Toyota.
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Read more:
Tesla creates new car firm in China
New Chinese car factory revels in remoteness
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China announced May 18 that it would end its anti-dumping and anti-subsidy investigation into imports of US sorghum, citing “public interest”. That move, coupled with recent steps including restarting a review of Qualcomm’s application to acquire NXP Semiconductors, signal a conciliatory stance from the Chinese side.
China has argued its plan to reduce import tariffs on foreign vehicles is long-standing and rejected previous efforts by Mr Trump to claim credit for it.
In particular, high-end cars will feel the effects of a tariff cut because less of their production has moved locally. For example, Lexus would benefit as the only premium Japanese marque that doesn’t manufacture in China or hasn’t announced plans to do so.
Foreign car makers have long pleaded for freer access to China’s car market, while its own manufacturers are expanding abroad. In April, China announced a timetable to permit foreign car makers to own more than 50 per cent of local ventures.
China imported 1.22 million vehicles last year, or about 4.2 per cent of the country’s total sales of about 28.9 million automobiles. At the Boao Forum in April, President Xi Jinping reiterated China’s commitment to reduce import tariffs on vehicles.
Killing of Qassem Suleimani
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The specs
Engine: Long-range single or dual motor with 200kW or 400kW battery
Transmission: Single-speed automatic
Max touring range: 620km / 590km
Price: From Dh250,000 (estimated)
Ultra processed foods
- Carbonated drinks, sweet or savoury packaged snacks, confectionery, mass-produced packaged breads and buns
- margarines and spreads; cookies, biscuits, pastries, cakes, and cake mixes, breakfast cereals, cereal and energy bars;
- energy drinks, milk drinks, fruit yoghurts and fruit drinks, cocoa drinks, meat and chicken extracts and instant sauces
- infant formulas and follow-on milks, health and slimming products such as powdered or fortified meal and dish substitutes,
- many ready-to-heat products including pre-prepared pies and pasta and pizza dishes, poultry and fish nuggets and sticks, sausages, burgers, hot dogs, and other reconstituted meat products, powdered and packaged instant soups, noodles and desserts.
What to watch out for:
Algae, waste coffee grounds and orange peels will be used in the pavilion's walls and gangways
The hulls of three ships will be used for the roof
The hulls will painted to make the largest Italian tricolour in the country’s history
Several pillars more than 20 metres high will support the structure
Roughly 15 tonnes of steel will be used
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Medicus AI
Started: 2016
Founder(s): Dr Baher Al Hakim, Dr Nadine Nehme and Makram Saleh
Based: Vienna, Austria; started in Dubai
Sector: Health Tech
Staff: 119
Funding: €7.7 million (Dh31m)
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THE BIO
Born: Mukalla, Yemen, 1979
Education: UAE University, Al Ain
Family: Married with two daughters: Asayel, 7, and Sara, 6
Favourite piece of music: Horse Dance by Naseer Shamma
Favourite book: Science and geology
Favourite place to travel to: Washington DC
Best advice you’ve ever been given: If you have a dream, you have to believe it, then you will see it.
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Plan to boost public schools
A major shake-up of government-run schools was rolled out across the country in 2017. Known as the Emirati School Model, it placed more emphasis on maths and science while also adding practical skills to the curriculum.
It was accompanied by the promise of a Dh5 billion investment, over six years, to pay for state-of-the-art infrastructure improvements.
Aspects of the school model will be extended to international private schools, the education minister has previously suggested.
Recent developments have also included the introduction of moral education - which public and private schools both must teach - along with reform of the exams system and tougher teacher licensing requirements.
Ant-Man%20and%20the%20Wasp%3A%20Quantumania
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BEETLEJUICE BEETLEJUICE
Starring: Winona Ryder, Michael Keaton, Jenny Ortega
Director: Tim Burton
Rating: 3/5
SPECS
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KINGDOM%20OF%20THE%20PLANET%20OF%20THE%20APES
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The Perfect Couple
Starring: Nicole Kidman, Liev Schreiber, Jack Reynor
Creator: Jenna Lamia
Rating: 3/5
