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China : 2nd textile quota system introduced |
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2006-8-11
Recently, China Government decided to change textile export quota bidding system from public competitive to agreement bidding.
The quota is the result of Sino-US and Sino-EU trade war in 2005.
As per the agreement, Chinese textile export is limited by the US and EU quota, while according to the 'textile export temporary management measures', 70 percent of textile export quota is directly distributed to textile enterprises, and 30 percent is to be distributed via public bidding.
In last two public biddings, quota several firms wasted some portion of their quota.
In order to increase the usage rate of textile export quota, to lighten enterprises burden, and to reduce bidding cost, China has introduced this second textile quota system, which is also the last big distribution this year.
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