I did a bit of research myself through major media channels in China and I believe the mystery among China's new policy has been solved. First of all, the new tax rate has already been applied, and it will stay!!! The deferred policies are the ones about registration or labeling or stuff like that, since the board of whoever in charge for the customs they figured since the new policy been put in place in April, there were so many cargos been held or been sent back by the customs due to admin issues. New requirement has not been met. Normal e-sales was hugely impacted.
So the board 'reckon', they 'might' postpone the effective date of the new police by a year and leave the tax rate as the new rate.
Above is my own understanding from the official Chinese media news, has been years not using much of Chinese, hopefully I got the major things 100%.
BAL Price at posting:
$10.75 Sentiment: Hold Disclosure: Held
