Drop! Drop! Drop! From July, your life will change because of these new laws and regulations.

　　CCTV News:Since July, a number of new policies and regulations have been implemented. Let’s take a look.

　　Central adjustment of endowment insurance fund

　　On July 1st, China officially implemented the central adjustment system of endowment insurance funds. Prior to this, the basic old-age insurance for enterprise employees in China was coordinated at the provincial level, and the income and expenditure and balance of each coordinated area were very unbalanced. The implementation of the central adjustment system of endowment insurance funds can increase the overall anti-risk ability of the endowment insurance system and make the timely and full payment of pensions in various places more secure.　

　　Import tariffs on daily necessities have been greatly reduced.　

　　From July 1st, the import tariffs on consumer goods will be lowered to a large extent. The average import tariff rate of clothing, shoes, hats, kitchens and sports and fitness products decreased from 15.9% to 7.1%; The average import tariff rate of household appliances such as washing machines and refrigerators was reduced from 20.5% to 8%; The average import tariff rate of processed foods such as aquaculture, fishing aquatic products and mineral water decreased from 15.2% to 6.9%; The average import tariff rate of washing products, cosmetics such as skin care and hairdressing, and some medical and health products decreased from 8.4% to 2.9%. The downward adjustment is basically above 50%.

　　Import tariffs on automobiles have been considerably reduced.　

　　From July 1st, China will reduce the import tariffs on automobiles considerably. Reduce the tariffs on automobiles with tax rates of 25% and 20% respectively to 15%; Reduce the tariffs on auto parts with tax rates of 8%, 10%, 15%, 20% and 25% to 6%.

　　The maximum discount for railway fare readjustment is 6.5%.

　　Three months after the last map adjustment, the railway department will implement the train diagram adjustment in the second phase of this year from July 1, and at the same time, from July 5, optimize the published fares of some high-speed trains, with a maximum discount of 6.5 fold. Compared with the current situation, the adjusted executive fare has generally increased and decreased.

　　Mobile phone traffic roaming will be cancelled.

　　China Mobile, China Unicom and China Telecom announced that the roaming fee (excluding the traffic from Hong Kong, Macao and Taiwan) will be cancelled from July 1st, and the traffic of mobile phone users in the province will be upgraded to domestic traffic, and the mobile phone traffic will no longer be divided into provincial, provincial/local and national. Since the "long-distance" call fee was completely abolished in September last year, there will be no difference in the main fees generated by the use of mobile phone numbers in all parts of the country (except Hong Kong, Macao and Taiwan) except the difference in attribution.

　　Fees for higher education degree certification are cancelled.

　　From July 1st, China will completely cancel the fees for domestic higher education degree certification services. In the next step, the Ministry of Education will vigorously promote the electronic inquiry authentication service to better meet the social needs such as data inquiry of domestic higher education degree certificates.

　　The central bank will targeted cuts to required reserve ratios by 0.5 percentage points.　

　　From July 5, the central bank will reduce the RMB deposit reserve ratio of large state-owned commercial banks, joint-stock commercial banks, postal savings banks, city commercial banks, non-county rural commercial banks and foreign banks by 0.5 percentage points, further promote the marketization and legalization of "debt-to-equity swaps" and increase support for small and micro enterprises.

　　Foreign investment access list is smaller and more open.

　　From July 28, a series of restrictions on foreign investment in banking, securities, automobile manufacturing, power grid construction, railway trunk road network construction and chain gas station construction will be lifted. The National Development and Reform Commission and the Ministry of Commerce recently released the negative list of foreign investment access in 2018, and launched a new round of opening-up measures in 22 fields including finance, infrastructure, transportation and trade circulation.