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China : Quota bidding right of textile units cancelled
Source: Fibre2fashion Date: 2009-01-13
Nearly 2000 textile units will lose the quota bidding right this year and next year because of not depositing textile quota bidding once again.
In May, over 4000 textile units were allotted textile quota but by July end, several quotas were under utilized hence China’s Commerce Bureau took back the quota of around 1000 textile units and would not permit to take part in the next textile quota bidding.
Last month, the Bureau carried out new agreement bidding policy; however, some textile units still have not paid quota deposit and Bureau has imposed further penalties.
