Explain China new tax policy and formula registration with CFDA, page-7

The importation duty is one of the lesser regulatory risks, and it seems a little bizarre that it is the sole focus of the media at present, although I suppose to be fair, it's the only one of the risks that has come to fruition thus far.

It's widely anticipated that Chinese authorities may enforce a ban on non-chinese labels on infant formula tins, and the place they may wish to enforce that requirement is likely to be within the cross boarder e-channel warehouses.

The potential confiscation of grey market English labelled infant formula within the e-commerce warehouses is probably the greatest potential risk to A2M.

It may just come down to how much motivation the Chinese have to enforce or not to enforce the new regulations.
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