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.
Beijing backs off ecommerce tax for the time being
China’s ministry delayed tax hike until 2018
