According to the People's Bank of China, the declaration of July cotton imports and exports should be based on calculation tariffs against the conversion price announced on the third Wednesday in June.

On June 20, 2007, the converted price of exchange rate between RMB and Dollar was One Dollar to 7.6180 yuan.

Therefore the tariff rate of July import and export goods will be calculated as one Dollar = 7.6180 yuan, an increase of 0.8589 percent in value compared with one Dollar = 7.6840 yuan in June.
 
Fibre2fashion, News Desk - China