New Chinese e-commerce tax plan shakes up Australian companies

Global Business

Greg 4

Shares have fallen dramatically in some Australian companies following China’s new tax plan for cross border e-commerce retail sales.

But experts don’t expect the move to have a long term impact, especially for Australian companies that have profited from increasing Chinese demand.

CCTV’s Greg Navarro reports.

New Chinese e-commerce tax plan shakes up Australian companies

New Chinese e-commerce tax plan shakes up Australian companies

Shares have fallen dramatically in some Australian companies following China's new tax plan for cross border e-commerce retail sales. But experts don't expect the move to have a long term impact, especially for Australian companies that have profited from increasing Chinese demand. CCTV's Greg Navarro reports.

In 2015, Chinese tourists visiting Australia’s shores spent more than $6 billion, and more significantly, each person spent on average about $5,000.

Analysts believe some of that spending was driven by China’s rising middle class and an increasing appetite for Australian products, including infant formula and health supplements.