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China:New measures adopted by China’s textile industry |
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2005-3-8
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In a bid to prevent flooding of International markets through its exports, China’s textile manufacturers are expected to adopt self-imposed price controls, state press reported on Thursday.
According to Wang Shenyang, Director of the China Chamber of Commerce for the Import and Export of Textiles, "A minimum price system will be adopted under which textile exporters who sell their products at a price lower than that stated in the system would be punished."
Stiff penalties will be imposed for violating the rule involving filing of a complaint with the state industry regulator to terminate export licenses among other measures.
He advocated imposition of tighter controls over certain ‘sensitive’ textile product categories to avoid anti-dumping investigations overseas.
No dates have been finalized for the rules to take effect. In the year 2003, Chinese textile exporters, accounted for 17 percent of the world’s textile and clothing market, and analysts say that within the next three years, it could corner about 50 percent of the global market share as the WTO governed trade barriers ended since January 1, 2005.
Several textiles-producing countries like Mexico, Cambodia and member countries of the European Union fear that the end of textile quotas will mean flooding of international markets with cheap Chinese textile products rendering their products uncompetitive, and resulting in loss of jobs.
In a measure to assuage the feeling of such countries, China’s Ministry of Commerce has already imposed a 0.2 to 0.5 yuan (two to six US cent) tariff per item on exports of 148 different textile products.
Approving such measures, the European Union Trade Commissioner Peter Mandelson during his recent visit to Beijing said he was encouraged by such action but was still worried as, "There is much concern that these measures will not be sufficient."
In January 2005, according to the data made available by the General Administration of Customs, China’s textile and garment exports rose 13.93 percent on an annual basis to $3.74 billion. |
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