China crackdown on cross-border online shopping creates panic

Shanghai/Beijing

A CRACKDOWN on China's booming cross-border online shopping trade has created commercial panic and prompted local consumers to seek ways to skirt the increased tariffs and stricter rules that have led to some products being yanked off shelves.

China raised taxes on goods bought on overseas e-commerce platforms on April 8, but sparked more confusion with a last-minute list that restricted some products from being sold through these channels, leading to sharp share-price gyrations by firms in close trade partners such as Australia.