Shoppers browse for health products in an aisle stocked with vitamin supplements. Photo: Reuters, Jason Reed

Asia UnhedgedReal-time intel on what moves markets

Beijing backs off ecommerce tax for the time being

China’s ministry delayed tax hike until 2018

By Asia Unhedged March 21, 2017 11:44 PM (UTC+8)

China has delayed an ecommerce tax, first announced last April, until January 2018, in a boost to ecommerce firms in the region. The Financial Times reports that the move has boosted New Zealand-based vitamin and food stocks, including shares of Blackmores, up 19.1%, and a2 Milk, up 5.2% on Tuesday. The announcement in April hit regional ecommerce players, such as Australian milk powder maker Bellamy’s, especially hard.

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