China Textile Export Administration Measures
Source: CCPIT TEX Date: 2006-09-26
China government forced to take strict actions as many firms were found to have wasted their textile export quota this year.
In order to avoid worse situation, MINISTRY OF COMMERCE,PRC China issued for enforcement a new 'Textile Export Administration Measures' scheme, which was implemented from September 18, 2006.
New policy specifically states that the textile units, with over 30 percent of textile export quota will suffer double deduction from next year’s quotas.
In addition, textile export quota is permitted to transfer and companies may directly sell their textile export quota in the markets.
Analysts believe that this scheme would increase the utility rate of textile export quota and also cut-down quota transactions in black market.
